Powers Advisory Group LLC Trims Stock Position in AT&T Inc. (NYSE:T)

Powers Advisory Group LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 10.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,190 shares of the technology company’s stock after selling 1,692 shares during the quarter. Powers Advisory Group LLC’s holdings in AT&T were worth $312,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% in 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 during the period. American Capital Advisory LLC lifted its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new stake in AT&T in the 2nd quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 0.6 %

Shares of T opened at $21.85 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a one year low of $14.74 and a one year high of $22.34. The stock has a 50-day moving average price of $20.95 and a 200 day moving average price of $18.97. The company has a market capitalization of $156.67 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.63 and a beta of 0.60.

AT&T (NYSE:T) last released 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. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the company earned $0.63 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Ratings Changes

Several brokerages have recently weighed in on T. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Tigress Financial boosted their price objective 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. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $22.69.

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.