Sweeney & Michel LLC Decreases Stock Position in AT&T Inc. (NYSE:T)

Sweeney & Michel LLC cut its stake in AT&T Inc. (NYSE:T) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,181 shares of the technology company’s stock after selling 3,968 shares during the period. Sweeney & Michel LLC’s holdings in AT&T were worth $332,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of T. Calton & Associates Inc. boosted its position in AT&T by 53.2% during the 3rd quarter. Calton & Associates Inc. now owns 56,181 shares of the technology company’s stock worth $1,236,000 after acquiring an additional 19,498 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of AT&T by 20.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 292,688 shares of the technology company’s stock valued at $6,439,000 after purchasing an additional 49,590 shares in the last quarter. Roof Eidam Maycock Peralta LLC bought a new stake in shares of AT&T in the 3rd quarter worth approximately $300,000. Horst & Graben Wealth Management LLC lifted its stake in AT&T by 34.4% during the third quarter. Horst & Graben Wealth Management LLC now owns 16,725 shares of the technology company’s stock valued at $368,000 after purchasing an additional 4,278 shares during the last quarter. Finally, Community Financial Services Group LLC acquired a new position in shares of AT&T in the 3rd quarter worth $206,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 1.3 %

T traded down $0.29 during mid-day trading on Tuesday, hitting $21.37. The stock had a trading volume of 7,413,299 shares, compared to its average volume of 35,371,000. AT&T Inc. has a 1-year low of $14.74 and a 1-year high of $22.34. The firm has a market capitalization of $153.23 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock’s fifty day simple moving average is $20.99 and its 200-day simple moving average is $19.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the business posted $0.63 EPS. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.19%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 63.79%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. The Goldman Sachs Group began coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Citigroup raised their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Company 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.