Detalus Advisors LLC Sells 11,489 Shares of AT&T Inc. (NYSE:T)

Detalus Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 32.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,476 shares of the technology company’s stock after selling 11,489 shares during the period. Detalus Advisors LLC’s holdings in AT&T were worth $516,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Strategic Financial Concepts LLC grew its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC grew its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE T traded up $0.73 during midday trading on Wednesday, hitting $22.23. 19,494,543 shares of the company’s stock were exchanged, compared to its average volume of 35,490,473. The business’s fifty day moving average price is $21.03 and its two-hundred day moving average price is $19.04. The company has a market cap of $159.39 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 3.73 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is currently 63.79%.

Analysts Set New Price Targets

Several research firms have recently issued reports on T. Barclays upped their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.