Alpha Omega Wealth Management LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Alpha Omega Wealth Management LLC decreased its holdings in AT&T Inc. (NYSE:T) by 2.5% in the third quarter, Holdings Channel reports. The fund owned 451,828 shares of the technology company’s stock after selling 11,479 shares during the quarter. AT&T makes up 1.8% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 8th biggest holding. Alpha Omega Wealth Management LLC’s holdings in AT&T were worth $9,940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. CIBC Private Wealth Group LLC raised its stake in shares of AT&T by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 263,249 shares of the technology company’s stock valued at $4,417,000 after acquiring an additional 5,882 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in AT&T by 16,833.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,062,555 shares of the technology company’s stock valued at $17,830,000 after purchasing an additional 1,056,280 shares during the last quarter. Morningstar Investment Services LLC raised its position in AT&T by 140.2% in the 4th quarter. Morningstar Investment Services LLC now owns 38,522 shares of the technology company’s stock worth $645,000 after purchasing an additional 22,485 shares during the period. Epoch Investment Partners Inc. lifted its stake in AT&T by 12.2% in the fourth quarter. Epoch Investment Partners Inc. now owns 4,360,634 shares of the technology company’s stock worth $73,171,000 after purchasing an additional 474,764 shares during the last quarter. Finally, Platform Technology Partners boosted its position in shares of AT&T by 3.4% during the fourth quarter. Platform Technology Partners now owns 19,778 shares of the technology company’s stock valued at $337,000 after buying an additional 645 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.6 %

Shares of NYSE T opened at $22.05 on Friday. The business has a fifty day moving average price of $20.41 and a 200 day moving average price of $18.63. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $158.10 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on T. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Barclays lifted their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday. Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.38.

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.