Proquility Private Wealth Partners LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Proquility Private Wealth Partners LLC reduced its stake in AT&T Inc. (NYSE:T) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,115 shares of the technology company’s stock after selling 9,184 shares during the quarter. Proquility Private Wealth Partners LLC’s holdings in AT&T were worth $2,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Tsfg LLC raised its holdings in shares of AT&T by 13.2% in the third quarter. Tsfg LLC now owns 7,751 shares of the technology company’s stock worth $171,000 after buying an additional 901 shares during the last quarter. Roberts Wealth Advisors LLC purchased a new stake in shares of AT&T during the third quarter valued at $219,000. Griffin Asset Management Inc. increased its position in shares of AT&T by 0.8% in the 3rd quarter. Griffin Asset Management Inc. now owns 117,510 shares of the technology company’s stock valued at $2,585,000 after acquiring an additional 918 shares during the period. Opal Wealth Advisors LLC raised its stake in AT&T by 53.9% in the 3rd quarter. Opal Wealth Advisors LLC now owns 11,294 shares of the technology company’s stock worth $248,000 after acquiring an additional 3,955 shares during the last quarter. Finally, CFM Wealth Partners LLC lifted its position in AT&T by 3.3% during the 3rd quarter. CFM Wealth Partners LLC now owns 20,737 shares of the technology company’s stock worth $456,000 after acquiring an additional 662 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $21.51 on Wednesday. The firm has a market capitalization of $154.23 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The business’s 50 day moving average price is $20.81 and its 200-day moving average price is $18.89. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 1 year low of $14.28 and a 1 year 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 (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts forecast 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 will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on T. Evercore ISI increased their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. TD Cowen raised their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target 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.