Venture Visionary Partners LLC Sells 4,265 Shares of AT&T Inc. (NYSE:T)

Venture Visionary Partners LLC reduced its stake in AT&T Inc. (NYSE:T) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,841 shares of the technology company’s stock after selling 4,265 shares during the quarter. Venture Visionary Partners LLC’s holdings in AT&T were worth $2,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC grew its holdings in shares of 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. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the second quarter valued at about $30,000. Marquette Asset Management LLC acquired a new position in AT&T during the third quarter valued at approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on T shares. JPMorgan Chase & Co. increased their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted 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. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI lifted their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Stock Performance

Shares of NYSE:T opened at $21.67 on Tuesday. The company’s 50 day simple moving average is $20.99 and its 200 day simple moving average is $19.01. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.34. The stock has a market capitalization of $155.38 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. As a group, research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

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.