Financial Counselors Inc. Reduces Stock Holdings in AT&T Inc. (NYSE:T)

Financial Counselors Inc. cut its holdings in AT&T Inc. (NYSE:T) by 8.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,688 shares of the technology company’s stock after selling 7,762 shares during the quarter. Financial Counselors Inc.’s holdings in AT&T were worth $1,863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% in the second 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 last quarter. Riggs Asset Managment Co. Inc. boosted 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 valued at $27,000 after acquiring an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. American Capital Advisory LLC raised 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 worth $30,000 after purchasing an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in AT&T during the second quarter valued at $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 0.5 %

NYSE T opened at $23.16 on Friday. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The business has a fifty day moving average price of $22.17 and a 200 day moving average price of $20.13. The company has a market cap of $166.18 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.49 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Oppenheimer increased their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Citigroup raised their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Moffett Nathanson boosted their target price 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. One research 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. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

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.