Towercrest Capital Management Trims Holdings in AT&T Inc. (NYSE:T)

Towercrest Capital Management trimmed its position in AT&T Inc. (NYSE:T) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,280 shares of the technology company’s stock after selling 1,445 shares during the quarter. Towercrest Capital Management’s holdings in AT&T were worth $644,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of T. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position 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 valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised 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 valued at $30,000 after acquiring an additional 807 shares in the last quarter. Reston Wealth Management LLC purchased a new position in AT&T during the third quarter valued at approximately $35,000. Finally, Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter valued at approximately $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $23.18 on Friday. The stock’s fifty day moving average is $22.02 and its two-hundred day moving average is $19.94. The firm has a market capitalization of $166.32 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.29.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several brokerages have commented on T. Oppenheimer raised their price objective on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T 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.