Prime Capital Investment Advisors LLC Trims Holdings in AT&T Inc. (NYSE:T)

Prime Capital Investment Advisors LLC lessened its stake in AT&T Inc. (NYSE:TFree Report) by 4.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 174,232 shares of the technology company’s stock after selling 7,296 shares during the period. Prime Capital Investment Advisors LLC’s holdings in AT&T were worth $3,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC grew its holdings in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its position in 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 valued at $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC grew its stake in shares of 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 acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of 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 valued at $35,000 after acquiring an additional 1,192 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $22.30 on Thursday. The business has a 50 day simple moving average of $21.79 and a 200-day simple moving average of $19.63. The company has a market capitalization of $160.01 billion, a P/E ratio of 18.13, a PEG ratio of 3.33 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.52 and a twelve month high of $22.73. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Citigroup boosted their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Oppenheimer boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.40.

View Our Latest Analysis on T

AT&T Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AT&T (NYSE:T)

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