Intellectus Partners LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Intellectus Partners LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 5.1% in the 3rd quarter, according to its most recent 13F 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 large investors have also added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new position in shares of AT&T during the second quarter valued at approximately $23,888,000. Talbot Financial LLC bought a new position in AT&T in the 3rd quarter worth $7,438,000. Mackenzie Financial Corp lifted its position in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC boosted its stake in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of AT&T by 7.2% during the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after buying an additional 26,706 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Performance

T stock opened at $22.69 on Friday. The stock’s 50 day simple moving average is $21.85 and its 200 day simple moving average is $19.67. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.75 and a 12-month high of $22.75. The stock has a market capitalization of $162.81 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

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