AT&T Inc. (NYSE:T) Shares Sold by Golden State Equity Partners

Golden State Equity Partners cut its holdings in shares of AT&T Inc. (NYSE:T) by 5.4% in the third quarter, HoldingsChannel reports. The firm owned 68,703 shares of the technology company’s stock after selling 3,929 shares during the period. Golden State Equity Partners’ holdings in AT&T were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of T. Miracle Mile Advisors LLC boosted its holdings in AT&T by 3.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 35,699 shares of the technology company’s stock worth $628,000 after buying an additional 1,061 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of AT&T by 3.7% during the first quarter. Valley National Advisers Inc. now owns 26,934 shares of the technology company’s stock worth $474,000 after purchasing an additional 958 shares in the last quarter. Kovack Advisors Inc. raised its stake in AT&T by 8.0% in the 1st quarter. Kovack Advisors Inc. now owns 169,908 shares of the technology company’s stock valued at $2,990,000 after purchasing an additional 12,584 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in AT&T by 3.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 191,305 shares of the technology company’s stock worth $3,367,000 after purchasing an additional 6,932 shares during the last quarter. Finally, Uncommon Cents Investing LLC raised its position in shares of AT&T by 2.6% in the first quarter. Uncommon Cents Investing LLC now owns 29,000 shares of the technology company’s stock valued at $510,000 after buying an additional 735 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

T stock traded up $0.04 during midday trading on Wednesday, hitting $22.22. The company’s stock had a trading volume of 1,455,033 shares, compared to its average volume of 35,499,563. AT&T Inc. has a 52-week low of $15.25 and a 52-week high of $22.58. The firm has a 50-day simple moving average of $21.31 and a 200-day simple moving average of $19.23. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $159.32 billion, a P/E ratio of 18.03, a PEG ratio of 3.74 and a beta of 0.60.

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

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on T shares. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.