Worth Asset Management LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

by · The Markets Daily

Worth Asset Management LLC lessened its position in shares of AT&T Inc. (NYSE:T – Free Report) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,830 shares of the technology company’s stock after selling 779 shares during the quarter. Worth Asset Management LLC’s holdings in AT&T were worth $260,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Pineridge Advisors LLC acquired a new stake in AT&T during the 4th quarter worth about $25,000. Strategic Financial Concepts LLC grew its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its position 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 acquiring an additional 1,116 shares during the period. American Capital Advisory LLC grew its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in AT&T in the 2nd quarter valued at $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $21.20 on Friday. The firm has a market cap of $152.01 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. AT&T Inc. has a 52 week low of $14.23 and a 52 week high of $22.34. The business’s fifty day simple moving average is $20.67 and its 200-day simple moving average is $18.79. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is currently 63.79%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Citigroup increased their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Barclays raised their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

Check Out Our Latest Analysis on T

About AT&T

(Free Report)

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.

See Also

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