Private Advisor Group LLC Sells 120,932 Shares of AT&T Inc. (NYSE:T)

Private Advisor Group LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 14.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,411 shares of the technology company’s stock after selling 120,932 shares during the quarter. Private Advisor Group LLC’s holdings in AT&T were worth $11,803,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in AT&T by 12.9% in the 3rd quarter. Mackenzie Financial Corp now owns 2,577,352 shares of the technology company’s stock worth $38,093,000 after purchasing an additional 294,986 shares during the period. Brighton Jones LLC boosted its holdings in AT&T by 18.6% during the 3rd quarter. Brighton Jones LLC now owns 41,104 shares of the technology company’s stock valued at $617,000 after acquiring an additional 6,446 shares during the period. Baystate Wealth Management LLC increased its stake in AT&T by 8.6% in the third quarter. Baystate Wealth Management LLC now owns 22,956 shares of the technology company’s stock worth $345,000 after purchasing an additional 1,814 shares during the period. Waldron Private Wealth LLC lifted its position in shares of AT&T by 40.7% during the third quarter. Waldron Private Wealth LLC now owns 75,537 shares of the technology company’s stock worth $1,134,000 after purchasing an additional 21,834 shares during the last quarter. Finally, Washington Capital Management Inc. purchased a new stake in shares of AT&T during the third quarter valued at $370,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Performance

Shares of T traded up $0.04 during trading hours on Tuesday, hitting $17.03. The stock had a trading volume of 14,039,549 shares, compared to its average volume of 38,645,586. The firm has a market capitalization of $122.11 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 3.32 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The firm has a 50-day moving average price of $16.98 and a 200 day moving average price of $16.68. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is presently 59.68%.

About AT&T

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.