AT&T Inc. $T Shares Sold by Corrado Advisors LLC

Corrado Advisors LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,059 shares of the technology company’s stock after selling 2,343 shares during the quarter. AT&T comprises 1.6% of Corrado Advisors LLC’s portfolio, making the stock its 13th largest position. Corrado Advisors LLC’s holdings in AT&T were worth $2,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Denali Advisors LLC raised its position in shares of AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares during the period. CHURCHILL MANAGEMENT Corp increased its position in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after acquiring an additional 4,793 shares during the period. Kickstand Ventures LLC. acquired a new stake in AT&T in the 2nd quarter valued at approximately $489,000. Sentry Investment Management LLC increased its position in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after acquiring an additional 13,370 shares during the period. Finally, ASR Vermogensbeheer N.V. increased its position in AT&T by 1.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after acquiring an additional 9,970 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on T. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. TD Cowen raised their target price on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada lowered their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Bank of America began coverage on AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Williams Trading set a $33.00 target price on AT&T in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Stock Performance

Shares of NYSE T opened at $25.71 on Wednesday. The stock has a fifty day moving average price of $27.83 and a two-hundred day moving average price of $27.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market cap of $183.80 billion, a P/E ratio of 8.35, a PEG ratio of 2.07 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Research analysts forecast that AT&T Inc. will post 2.14 EPS 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 paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

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.