Centaurus Financial Inc. Lowers Position in AT&T Inc. (NYSE:T)

Centaurus Financial Inc. reduced its stake in AT&T Inc. (NYSE:T) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,148 shares of the technology company’s stock after selling 950 shares during the period. Centaurus Financial Inc.’s holdings in AT&T were worth $949,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. Strategic Financial Concepts LLC lifted its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. 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 in the last quarter. American Capital Advisory LLC boosted its position in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the second quarter valued at $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $23.10 on Tuesday. The business has a 50 day moving average price of $22.04 and a 200 day moving average price of $20.00. 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 market cap of $165.75 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 3.48 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.32.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced 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 4.81%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analysts Set New Price Targets

T has been the topic of several research reports. Tigress Financial increased their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays increased their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price target on shares of AT&T 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average 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.