Corrado Advisors LLC Sells 6,766 Shares of AT&T Inc. (NYSE:T)

Corrado Advisors LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,419 shares of the technology company’s stock after selling 6,766 shares during the period. AT&T accounts for about 1.5% of Corrado Advisors LLC’s portfolio, making the stock its 21st largest holding. Corrado Advisors LLC’s holdings in AT&T were worth $2,363,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Executive Wealth Management LLC boosted its holdings in shares of AT&T by 44.3% during the 3rd quarter. Executive Wealth Management LLC now owns 42,397 shares of the technology company’s stock worth $933,000 after buying an additional 13,017 shares during the period. Windward Capital Management Co. CA boosted its holdings in shares of AT&T by 1.5% during the 3rd quarter. Windward Capital Management Co. CA now owns 163,525 shares of the technology company’s stock worth $3,598,000 after buying an additional 2,444 shares during the period. CWA Asset Management Group LLC bought a new stake in AT&T in the 3rd quarter valued at about $718,000. Equitable Trust Co. boosted its holdings in AT&T by 81.6% in the 3rd quarter. Equitable Trust Co. now owns 25,703 shares of the technology company’s stock valued at $565,000 after purchasing an additional 11,552 shares during the period. Finally, Leavell Investment Management Inc. boosted its holdings in AT&T by 15.7% in the 3rd quarter. Leavell Investment Management Inc. now owns 50,640 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 6,853 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $22.37 on Friday. The company has a market cap of $160.48 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 3.35 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $21.70 and a 200 day simple moving average of $19.52. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

A number of analysts have issued reports on T shares. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Moffett Nathanson boosted their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Barclays boosted their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.