Rise Advisors LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Rise Advisors LLC lessened its stake in AT&T Inc. (NYSE:T) by 32.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,760 shares of the technology company’s stock after selling 2,818 shares during the quarter. Rise Advisors LLC’s holdings in AT&T were worth $127,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. American Capital Advisory LLC increased its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the second quarter valued at $30,000. Finally, Marquette Asset Management LLC acquired a new position in AT&T in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $21.37 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $153.23 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The business’s 50-day moving average price is $20.71 and its 200 day moving average price is $18.84. AT&T Inc. has a twelve month low of $14.23 and a twelve month high of $22.34.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Ratings Changes

T has been the topic of several research analyst reports. Barclays raised their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.38.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.