Advocate Group LLC Decreases Holdings in AT&T Inc. $T

Advocate Group LLC cut its holdings in AT&T Inc. (NYSE:T) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,787 shares of the technology company’s stock after selling 603 shares during the period. Advocate Group LLC’s holdings in AT&T were worth $225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the second quarter valued at about $26,000. Hager Investment Management Services LLC grew its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the last quarter. Kennebec Savings Bank lifted its holdings in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the period. Finally, Core Alternative Capital raised its holdings in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on T. Barclays reaffirmed an “equal weight” rating and set a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. UBS Group set a $33.00 price target on shares of AT&T in a research note on Thursday, September 18th. Finally, Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

AT&T Price Performance

Shares of NYSE T opened at $25.85 on Friday. The stock’s 50-day moving average is $28.45 and its two-hundred day moving average is $27.88. The company has a market cap of $184.82 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s payout ratio is 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.