Phillips Wealth Planners LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Phillips Wealth Planners LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 11.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,226 shares of the technology company’s stock after selling 1,266 shares during the period. Phillips Wealth Planners LLC’s holdings in AT&T were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. increased 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. American Capital Advisory LLC lifted its position 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 worth $30,000 after buying an additional 807 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of AT&T in the 3rd quarter worth about $35,000. Altshuler Shaham Ltd acquired a new position in shares of AT&T in the 2nd quarter valued at about $30,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AT&T in the 3rd quarter worth approximately $36,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.9 %

NYSE T opened at $22.12 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $15.46 and a 1-year high of $22.73. The firm’s fifty day simple moving average is $21.47 and its 200-day simple moving average is $19.31. The company has a market capitalization of $158.72 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 3.38 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 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $30.50 billion. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is 90.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on T. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer upped their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Citigroup boosted their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.