Prio Wealth Limited Partnership Cuts Position in AT&T Inc. (NYSE:T)

Prio Wealth Limited Partnership lessened its holdings in AT&T Inc. (NYSE:T) by 15.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,105 shares of the technology company’s stock after selling 4,839 shares during the quarter. Prio Wealth Limited Partnership’s holdings in AT&T were worth $596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Financial Concepts LLC grew its holdings in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in 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 worth $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC grew its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd purchased a new stake in AT&T in the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Evercore ISI increased their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada increased their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

AT&T Stock Performance

T traded down $0.11 during trading on Monday, hitting $21.74. The company’s stock had a trading volume of 8,006,905 shares, compared to its average volume of 35,397,117. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a one year low of $14.74 and a one year high of $22.34. The firm has a market cap of $155.88 billion, a PE ratio of 11.71, a P/E/G ratio of 3.63 and a beta of 0.60. The business’s 50 day simple moving average is $20.95 and its 200-day simple moving average is $18.98.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.11%. AT&T’s payout ratio is presently 59.68%.

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.