AT&T Inc. (NYSE:T) Position Reduced by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,944 shares of the technology company’s stock after selling 750 shares during the period. Portside Wealth Group LLC’s holdings in AT&T were worth $2,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of T. Strategic Financial Concepts LLC lifted its stake 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 purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its holdings in shares of 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 during the period. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the 2nd quarter valued at about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in 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 worth $35,000 after acquiring an additional 1,192 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock opened at $22.05 on Friday. AT&T Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $22.73. The firm’s 50 day simple moving average is $21.61 and its 200-day simple moving average is $19.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market cap of $158.22 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59.

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

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Barclays lifted their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.