Cantor Fitzgerald Investment Advisors L.P. Cuts Stock Position in AT&T Inc. $T

Cantor Fitzgerald Investment Advisors L.P. cut its holdings in shares of AT&T Inc. (NYSE:T) by 35.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,896 shares of the technology company’s stock after selling 198,349 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in AT&T were worth $10,647,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the 2nd quarter worth approximately $26,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the period. Core Alternative Capital lifted its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in AT&T in the first quarter valued at approximately $29,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. UBS Group set a $33.00 price objective on shares of AT&T in a report on Thursday, September 18th. Finally, Scotiabank lifted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Stock Down 2.5%

Shares of NYSE T opened at $27.55 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market cap of $196.96 billion, a P/E ratio of 15.65, a P/E/G ratio of 3.62 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The business has a 50-day simple moving average of $28.63 and a two-hundred day simple moving average of $27.91.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.