HF Advisory Group LLC Sells 2,203 Shares of AT&T Inc. (NYSE:T)

HF Advisory Group LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,762 shares of the technology company’s stock after selling 2,203 shares during the quarter. AT&T makes up approximately 1.0% of HF Advisory Group LLC’s holdings, making the stock its 29th largest holding. HF Advisory Group LLC’s holdings in AT&T were worth $2,173,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its holdings in AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the period. AQR Capital Management LLC raised its position in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. boosted its position in shares of AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of AT&T during the second quarter worth $78,570,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE T opened at $22.06 on Wednesday. The company has a market capitalization of $158.29 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 3.32 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73. The firm’s 50 day moving average is $21.56 and its 200-day moving average is $19.44. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. TD Cowen upped their target price 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 reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T 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.