Main Street Financial Solutions LLC Has $847,000 Stock Position in AT&T Inc. (NYSE:T)

Main Street Financial Solutions LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,505 shares of the technology company’s stock after selling 5,855 shares during the period. Main Street Financial Solutions LLC’s holdings in AT&T were worth $847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Reston Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $35,000. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter worth approximately $30,000. Finally, Marquette Asset Management LLC purchased a new stake in AT&T in the third quarter worth $36,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Tigress Financial lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Up 0.7 %

Shares of T opened at $22.30 on Thursday. The firm has a market cap of $160.01 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.33 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.52 and a 1 year high of $22.73. The stock has a 50 day simple moving average of $21.79 and a two-hundred day simple moving average of $19.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’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 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s payout ratio is currently 90.24%.

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.