Triad Wealth Partners LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Triad Wealth Partners LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,485 shares of the technology company’s stock after selling 1,209 shares during the quarter. Triad Wealth Partners LLC’s holdings in AT&T were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of T. Salem Investment Counselors Inc. increased its holdings in AT&T by 16.9% in the first quarter. Salem Investment Counselors Inc. now owns 32,833 shares of the technology company’s stock valued at $578,000 after buying an additional 4,750 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in AT&T in the first quarter valued at $160,000. AdvisorNet Financial Inc increased its holdings in AT&T by 12.3% in the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock valued at $352,000 after buying an additional 2,186 shares during the last quarter. Global Assets Advisory LLC purchased a new position in AT&T in the first quarter valued at $2,436,000. Finally, Austin Private Wealth LLC boosted its stake in AT&T by 12.9% in the first quarter. Austin Private Wealth LLC now owns 18,345 shares of the technology company’s stock valued at $323,000 after acquiring an additional 2,101 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. 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 note on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T Price Performance

Shares of T stock traded down $0.02 during mid-day trading on Monday, reaching $21.83. The stock had a trading volume of 10,084,237 shares, compared to its average volume of 35,407,840. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34. The company has a market cap of $156.52 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The business has a 50-day simple moving average of $20.95 and a 200 day simple moving average of $18.98. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts anticipate 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 given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. 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.