McIlrath & Eck LLC Sells 1,953 Shares of AT&T Inc. (NYSE:T)

McIlrath & Eck LLC decreased its position in AT&T Inc. (NYSE:T) by 16.7% during the third quarter, HoldingsChannel.com reports. The fund owned 9,746 shares of the technology company’s stock after selling 1,953 shares during the quarter. McIlrath & Eck LLC’s holdings in AT&T were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after buying an additional 43,062 shares during the last quarter. ORG Partners LLC increased its stake in AT&T by 779.5% during the second quarter. ORG Partners LLC now owns 19,121 shares of the technology company’s stock worth $363,000 after acquiring an additional 16,947 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position in AT&T by 11.5% during the second quarter. GPS Wealth Strategies Group LLC now owns 9,640 shares of the technology company’s stock valued at $184,000 after purchasing an additional 996 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of AT&T by 1.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 438,329 shares of the technology company’s stock valued at $8,376,000 after purchasing an additional 8,370 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $507,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.7 %

Shares of NYSE:T opened at $23.53 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market capitalization of $168.80 billion, a P/E ratio of 19.13, a P/E/G ratio of 3.63 and a beta of 0.59. The business’s 50-day moving average is $22.39 and its 200 day moving average is $20.43. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the business earned $0.64 EPS. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

T has been the topic of several recent research reports. Wells Fargo & Company decreased 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. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

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.