Wealth Alliance Advisory Group LLC Sells 27,981 Shares of AT&T Inc. (NYSE:T)

Wealth Alliance Advisory Group LLC trimmed its position in AT&T Inc. (NYSE:T) by 42.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,077 shares of the technology company’s stock after selling 27,981 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in AT&T were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Strategic Financial Concepts LLC increased its position in 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 buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC raised its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in AT&T in the 2nd quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

AT&T stock opened at $21.85 on Friday. The stock has a 50-day simple moving average of $20.95 and a 200 day simple moving average of $18.97. The stock has a market capitalization of $156.67 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 3.63 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. AT&T’s payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research analyst reports. Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.69.

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.