Marco Investment Management LLC Has $727,000 Stock Holdings in AT&T Inc. (NYSE:T)

Marco Investment Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,041 shares of the technology company’s stock after selling 1,747 shares during the quarter. Marco Investment Management LLC’s holdings in AT&T were worth $727,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE lifted its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during 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 stake in AT&T by 107.5% in the second 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 in the last quarter. Reston Wealth Management LLC bought a new position in AT&T in the third quarter valued at about $35,000. Finally, Altshuler Shaham Ltd acquired a new position in AT&T during the second quarter worth about $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $23.18 on Friday. 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 firm has a market cap of $166.32 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.45 and a beta of 0.59. The company’s fifty day simple moving average is $22.02 and its 200 day simple moving average is $19.94. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.29.

AT&T (NYSE:T) last announced its quarterly earnings data 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 company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. On average, analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced 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 was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. AT&T’s payout ratio is presently 90.24%.

Analyst Ratings Changes

Several brokerages recently issued reports on T. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company decreased their target price 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. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.