Avaii Wealth Management LLC Sells 1,552 Shares of AT&T Inc. (NYSE:T)

Avaii Wealth Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,533 shares of the technology company’s stock after selling 1,552 shares during the quarter. Avaii Wealth Management LLC’s holdings in AT&T were worth $320,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of T. Fisher Asset Management LLC increased its holdings in shares of AT&T by 29.4% in the fourth quarter. Fisher Asset Management LLC now owns 130,844 shares of the technology company’s stock valued at $2,196,000 after purchasing an additional 29,757 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of AT&T by 4.2% in the 1st quarter. First Hawaiian Bank now owns 135,828 shares of the technology company’s stock valued at $2,391,000 after acquiring an additional 5,422 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in AT&T by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 29,340 shares of the technology company’s stock valued at $516,000 after purchasing an additional 2,036 shares during the period. Foster Group Inc. raised its stake in AT&T by 18.2% during the 1st quarter. Foster Group Inc. now owns 20,912 shares of the technology company’s stock valued at $368,000 after acquiring an additional 3,215 shares during the last quarter. Finally, Signal Advisors Wealth LLC acquired a new stake in shares of AT&T during the first quarter worth $240,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on T. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Barclays boosted their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $22.69.

AT&T Price Performance

T stock remained flat at $21.71 during midday trading on Thursday. 6,385,955 shares of the company’s stock were exchanged, compared to its average volume of 35,485,301. The firm has a market capitalization of $155.66 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 1 year low of $14.31 and a 1 year high of $22.34. The stock’s 50 day simple moving average is $20.86 and its 200-day simple moving average is $18.91.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal 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 issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company Profile

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.