Intellectus Partners LLC Trims Stock Position in AT&T Inc. (NYSE:T)

Intellectus Partners LLC lessened its holdings in AT&T Inc. (NYSE:T) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,884 shares of the technology company’s stock after selling 746 shares during the period. Intellectus Partners LLC’s holdings in AT&T were worth $305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its stake 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 acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC lifted its position in AT&T by 107.5% during 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 in the last quarter. Reston Wealth Management LLC bought a new stake in AT&T during the third quarter valued at about $35,000. Altshuler Shaham Ltd bought a new stake in AT&T during the second quarter valued at about $30,000. Finally, Marquette Asset Management LLC purchased a new stake in AT&T in the third quarter worth about $36,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on T. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Evercore ISI increased 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Up 2.0 %

Shares of T opened at $22.69 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market capitalization of $162.81 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.75 and a 1 year high of $22.75. The business’s 50 day simple moving average is $21.85 and its 200-day simple moving average is $19.67.

AT&T (NYSE:T) last announced 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. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 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.