Old Port Advisors Decreases Position in AT&T Inc. (NYSE:T)

Old Port Advisors cut its holdings in AT&T Inc. (NYSE:T) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 108,102 shares of the technology company’s stock after selling 3,276 shares during the period. Old Port Advisors’ holdings in AT&T were worth $2,378,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC increased its stake in AT&T by 28.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 40,366 shares of the technology company’s stock valued at $888,000 after purchasing an additional 8,928 shares during the last quarter. Yeomans Consulting Group Inc. increased its position in AT&T by 21.3% during the third quarter. Yeomans Consulting Group Inc. now owns 12,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 2,148 shares during the last quarter. Inscription Capital LLC raised its stake in AT&T by 1.4% during the third quarter. Inscription Capital LLC now owns 42,158 shares of the technology company’s stock worth $927,000 after purchasing an additional 588 shares during the period. Leuthold Group LLC boosted its holdings in shares of AT&T by 35.3% in the 3rd quarter. Leuthold Group LLC now owns 266,841 shares of the technology company’s stock valued at $5,871,000 after purchasing an additional 69,627 shares during the last quarter. Finally, FCG Investment Co acquired a new stake in shares of AT&T during the 3rd quarter worth $268,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T opened at $22.13 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $14.91 and a fifty-two week high of $22.58. The business has a 50 day moving average price of $21.26 and a two-hundred day moving average price of $19.19. The firm has a market cap of $158.64 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.02%. AT&T’s payout ratio is 90.24%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on T shares. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Moffett Nathanson lifted their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.