Cedar Wealth Management LLC Sells 17,953 Shares of AT&T Inc. (NYSE:T)

Cedar Wealth Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 45.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,213 shares of the technology company’s stock after selling 17,953 shares during the quarter. Cedar Wealth Management LLC’s holdings in AT&T were worth $467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in T. Chesapeake Wealth Management raised its position in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC grew its position in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares during the last quarter. Essex Savings Bank boosted its holdings in AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares in the last quarter. Hayek Kallen Investment Management boosted its stake in shares of AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its position in AT&T by 2.1% during the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock valued at $537,000 after buying an additional 501 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $22.73 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a one year low of $15.85 and a one year high of $23.20. The stock has a market cap of $163.09 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The stock has a 50 day moving average price of $21.94 and a 200-day moving average price of $19.84.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Equities analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analyst Ratings Changes

Several research firms have recently issued reports on T. Oppenheimer lifted their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.