AT&T Inc. (NYSE:T) Shares Sold by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 12.9% in the third quarter, HoldingsChannel.com reports. The firm owned 62,732 shares of the technology company’s stock after selling 9,314 shares during the quarter. Long Run Wealth Advisors LLC’s holdings in AT&T were worth $1,380,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hayek Kallen Investment Management raised its holdings in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the period. Lake Street Advisors Group LLC raised its stake in AT&T by 0.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 513 shares during the period. Octavia Wealth Advisors LLC raised its stake in AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC lifted its holdings in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares in the last quarter. Finally, WealthCare Investment Partners LLC boosted its position in shares of AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on T shares. Citigroup increased their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. Finally, Wells Fargo & Company dropped their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight 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.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Up 0.6 %

Shares of AT&T stock opened at $22.06 on Wednesday. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average price of $21.56 and a two-hundred day moving average price of $19.44. The stock has a market capitalization of $158.29 billion, a P/E ratio of 17.93, a PEG ratio of 3.32 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.03%. AT&T’s dividend payout ratio is presently 90.24%.

AT&T 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.