Accurate Wealth Management LLC Sells 1,851 Shares of AT&T Inc. (NYSE:T)

Accurate Wealth Management LLC decreased its position in AT&T Inc. (NYSE:T) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,885 shares of the technology company’s stock after selling 1,851 shares during the period. Accurate Wealth Management LLC’s holdings in AT&T were worth $965,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC boosted its stake 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 buying an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in AT&T in the second quarter valued at $30,000. Marquette Asset Management LLC acquired a new position in AT&T during the third quarter worth $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Oppenheimer increased 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. Tigress Financial lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Evercore ISI increased their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Barclays raised their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Performance

Shares of T stock opened at $21.85 on Friday. The stock has a market cap of $156.67 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The stock has a 50-day moving average of $20.95 and a 200-day moving average of $18.96. 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 one year low of $14.74 and a one year high of $22.34.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 dividend on an annualized basis and a dividend yield of 5.08%. AT&T’s payout ratio is 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.