Kovack Advisors Inc. Lowers Position in AT&T Inc. $T

Kovack Advisors Inc. lessened its stake in AT&T Inc. (NYSE:T) by 10.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,470 shares of the technology company’s stock after selling 14,580 shares during the quarter. Kovack Advisors Inc.’s holdings in AT&T were worth $3,515,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of T. Brighton Jones LLC lifted its holdings in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of AT&T by 74.9% in the first quarter. Golden State Wealth Management LLC now owns 7,341 shares of the technology company’s stock worth $208,000 after buying an additional 3,143 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of AT&T by 0.7% in the first quarter. Keybank National Association OH now owns 1,151,415 shares of the technology company’s stock worth $32,562,000 after buying an additional 8,195 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in shares of AT&T by 9.8% in the first quarter. Pinnacle Financial Partners Inc now owns 85,406 shares of the technology company’s stock worth $2,356,000 after buying an additional 7,598 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of AT&T by 2.9% in the first quarter. Private Trust Co. NA now owns 63,810 shares of the technology company’s stock worth $1,805,000 after buying an additional 1,777 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Wells Fargo & Company lowered their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Finally, Scotiabank set a $30.25 target price on shares of AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Price Performance

NYSE T opened at $24.66 on Friday. The firm’s fifty day simple moving average is $27.65 and its two-hundred day simple moving average is $27.72. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The firm has a market capitalization of $176.35 billion, a P/E ratio of 8.01, a P/E/G ratio of 2.16 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 1.7% 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 business also recently announced 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 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is 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.