New England Capital Financial Advisors LLC Sells 1,461 Shares of AT&T Inc. (NYSE:T)

New England Capital Financial Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 9.7% during the third quarter, Holdings Channel.com reports. The fund owned 13,557 shares of the technology company’s stock after selling 1,461 shares during the period. New England Capital Financial Advisors LLC’s holdings in AT&T were worth $298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc raised its holdings in AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. raised its holdings in AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, LSV Asset Management raised its holdings in AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer increased their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Down 1.9 %

Shares of T stock opened at $22.12 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73. The firm’s fifty day moving average price is $21.47 and its two-hundred day moving average price is $19.36. The firm has a market capitalization of $158.72 billion, a P/E ratio of 17.98, a PEG ratio of 3.38 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the business earned $0.64 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.02%. AT&T’s payout ratio is currently 90.24%.

About AT&T

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.