Nicholas Hoffman & Company LLC. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Nicholas Hoffman & Company LLC. lessened its position in AT&T Inc. (NYSE:T) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,440 shares of the technology company’s stock after selling 603 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in AT&T were worth $3,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of T. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position 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 purchasing an additional 1,116 shares during the period. American Capital Advisory LLC increased its position in 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 buying an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of AT&T in the 2nd quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.3 %

Shares of T stock opened at $22.18 on Wednesday. The company has a market capitalization of $159.04 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 3.74 and a beta of 0.60. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $21.31 and a 200 day moving average price of $19.23. AT&T Inc. has a twelve month low of $14.91 and a twelve month high of $22.58.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm posted $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen boosted 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. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Oppenheimer raised their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average 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.