AT&T Inc. (NYSE:T) Stake Lessened by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,396 shares of the technology company’s stock after selling 4,535 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in AT&T were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of T. Riggs Asset Managment Co. Inc. increased its holdings 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 valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC increased its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Reston Wealth Management LLC purchased a new stake in AT&T in the 3rd quarter worth approximately $35,000. Altshuler Shaham Ltd acquired a new stake in shares of AT&T during the 2nd quarter valued at $30,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AT&T during the 3rd quarter valued at $36,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T opened at $22.30 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $21.79 and its two-hundred day moving average price is $19.63. The firm has a market capitalization of $160.01 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.52 and a 12-month high of $22.73.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on T shares. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, TD Cowen boosted their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.