Kovack Advisors Inc. Reduces Position in AT&T Inc. (NYSE:T)

Kovack Advisors Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,635 shares of the technology company’s stock after selling 17,001 shares during the period. Kovack Advisors Inc.’s holdings in AT&T were worth $2,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the 2nd 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 last quarter. American Capital Advisory LLC grew its holdings in shares of AT&T by 107.5% in the second 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 period. Reston Wealth Management LLC acquired a new stake in AT&T during the third quarter worth about $35,000. Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter worth about $30,000. Finally, Marquette Asset Management LLC acquired a new position in AT&T in the 3rd quarter valued at about $36,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.7 %

Shares of NYSE:T traded up $0.16 during trading on Wednesday, hitting $22.31. The company’s stock had a trading volume of 4,075,526 shares, compared to its average volume of 35,445,395. The company has a market capitalization of $160.08 billion, a PE ratio of 18.01, a P/E/G ratio of 3.35 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.52 and a fifty-two week high of $22.73. The business has a 50 day moving average price of $21.79 and a two-hundred day moving average price of $19.63.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. As a group, research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 dividend on an annualized basis and a yield of 4.98%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

Several research firms have recently commented on T. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, 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 research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.