Global Retirement Partners LLC Cuts Position in AT&T Inc. (NYSE:T)

Global Retirement Partners LLC lessened its holdings in AT&T Inc. (NYSE:T) by 8.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 131,954 shares of the technology company’s stock after selling 12,422 shares during the quarter. Global Retirement Partners LLC’s holdings in AT&T were worth $2,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Strategic Financial Concepts LLC grew its holdings in shares of 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 last quarter. Riggs Asset Managment Co. Inc. grew its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC grew its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on T shares. Evercore ISI raised their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Royal Bank of Canada raised their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Stock Up 0.1 %

Shares of T stock opened at $21.74 on Friday. The company has a market capitalization of $155.84 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 3.63 and a beta of 0.60. AT&T Inc. has a one year low of $14.31 and a one year high of $22.34. The company’s fifty day moving average price is $20.90 and its 200-day moving average price is $18.93. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The firm 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 company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. AT&T’s payout ratio is 59.68%.

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.