KPP Advisory Services LLC Sells 3,349 Shares of AT&T Inc. (NYSE:T)

KPP Advisory Services LLC cut its holdings in AT&T Inc. (NYSE:T) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,989 shares of the technology company’s stock after selling 3,349 shares during the period. KPP Advisory Services LLC’s holdings in AT&T were worth $2,948,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Socha Financial Group LLC boosted its stake in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares during the period. Essex Savings Bank boosted its stake in shares of AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares during the period. Hayek Kallen Investment Management boosted its stake in shares of AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares during the period. Lake Street Advisors Group LLC lifted its stake in AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after acquiring an additional 513 shares during the last quarter. Finally, Spinnaker Trust lifted its stake in AT&T by 0.4% in the third quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock worth $2,741,000 after acquiring an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company decreased their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

NYSE:T traded up $0.43 during midday trading on Friday, reaching $22.68. The stock had a trading volume of 40,207,263 shares, compared to its average volume of 35,514,727. The firm has a fifty day simple moving average of $21.89 and a two-hundred day simple moving average of $19.71. AT&T Inc. has a 12-month low of $15.75 and a 12-month high of $22.75. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $162.74 billion, a P/E ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating 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 firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the firm posted $0.64 EPS. AT&T’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. AT&T’s payout ratio is currently 90.24%.

AT&T 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.