AT&T Inc. (NYSE:T) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC lessened its position in AT&T Inc. (NYSE:T) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,485 shares of the technology company’s stock after selling 4,040 shares during the period. BLB&B Advisors LLC’s holdings in AT&T were worth $517,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Alexander Labrunerie & CO. Inc. increased its stake in shares of AT&T by 35.0% in the third quarter. Alexander Labrunerie & CO. Inc. now owns 31,629 shares of the technology company’s stock valued at $696,000 after purchasing an additional 8,196 shares during the period. Symphony Financial Ltd. Co. increased its position in AT&T by 4.8% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 106,453 shares of the technology company’s stock valued at $2,342,000 after acquiring an additional 4,858 shares during the period. Waldron Private Wealth LLC raised its stake in AT&T by 7.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 84,184 shares of the technology company’s stock valued at $1,852,000 after acquiring an additional 5,769 shares in the last quarter. Leo Wealth LLC boosted its position in AT&T by 2.1% during the 3rd quarter. Leo Wealth LLC now owns 173,587 shares of the technology company’s stock worth $3,819,000 after acquiring an additional 3,522 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of AT&T by 45.8% in the third quarter. Sequoia Financial Advisors LLC now owns 247,992 shares of the technology company’s stock worth $5,456,000 after purchasing an additional 77,849 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

AT&T stock opened at $22.49 on Thursday. 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 company has a market cap of $161.26 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.58. The firm’s 50 day simple moving average is $21.09 and its 200-day simple moving average is $19.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. As a group, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 63.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Royal Bank of Canada raised 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 note on Thursday, July 25th. Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Finally, TD Cowen lifted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.93.

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.