Beacon Investment Advisory Services Inc. Sells 988 Shares of AT&T Inc. (NYSE:T)

Beacon Investment Advisory Services Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,086 shares of the technology company’s stock after selling 988 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in AT&T were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in shares of AT&T by 356.5% in 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 period. American Capital Advisory LLC increased its holdings in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter worth $35,000. Finally, Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter worth $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $22.70 on Tuesday. The company has a 50-day simple moving average of $22.17 and a two-hundred day simple moving average of $20.17. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.38. The firm has a market cap of $162.88 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. On average, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced 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. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

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.