Marco Investment Management LLC Has $727,000 Holdings in AT&T Inc. (NYSE:T)

Marco Investment Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 5.0% during the third quarter, Holdings Channel.com reports. The firm owned 33,041 shares of the technology company’s stock after selling 1,747 shares during the period. Marco Investment Management LLC’s holdings in AT&T were worth $727,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of T. Ritter Daniher Financial Advisory LLC DE raised its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC lifted its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Reston Wealth Management LLC acquired a new position in AT&T during the 3rd quarter valued at about $35,000. Finally, Altshuler Shaham Ltd bought a new stake in AT&T during the 2nd quarter worth approximately $30,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.9 %

T stock opened at $23.18 on Friday. The stock has a fifty day moving average of $22.02 and a 200-day moving average of $19.94. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.29. The company has a market capitalization of $166.32 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.45 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping 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 was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

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 4.79%. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several research analysts recently issued reports on T shares. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Moffett Nathanson increased their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Evercore ISI lifted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.