Perkins Capital Management Inc. Sells 5,134 Shares of AT&T Inc. (NYSE:T)

by · The Markets Daily

Perkins Capital Management Inc. decreased its position in AT&T Inc. (NYSE:T – Free Report) by 13.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,742 shares of the technology company’s stock after selling 5,134 shares during the quarter. Perkins Capital Management Inc.’s holdings in AT&T were worth $742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bridgewater Advisors Inc. raised its holdings in shares of AT&T by 3.8% during the 3rd quarter. Bridgewater Advisors Inc. now owns 35,485 shares of the technology company’s stock worth $787,000 after acquiring an additional 1,309 shares in the last quarter. Advisor Resource Council purchased a new position in shares of AT&T during the 3rd quarter worth about $303,000. Graypoint LLC boosted its position in shares of AT&T by 3.7% during the third quarter. Graypoint LLC now owns 76,286 shares of the technology company’s stock valued at $1,678,000 after buying an additional 2,688 shares during the period. Blake Schutter Theil Wealth Advisors LLC bought a new position in AT&T in the 3rd quarter valued at $432,000. Finally, Forte Capital LLC ADV increased its stake in AT&T by 3.6% in the 3rd quarter. Forte Capital LLC ADV now owns 18,952 shares of the technology company’s stock worth $417,000 after buying an additional 652 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.2 %

Shares of AT&T stock opened at $22.32 on Thursday. AT&T Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $22.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of $160.15 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 3.29 and a beta of 0.59. The stock has a 50 day moving average of $21.61 and a 200 day moving average of $19.46.

AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, research analysts predict 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. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

Analyst Ratings Changes

Several equities research analysts have recently commented on T shares. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. TD Cowen upped their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Evercore ISI boosted their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Barclays upped their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Get Our Latest Stock Analysis on AT&T

AT&T Profile

(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.

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