AT&T Inc. (NYSE:T) is Pacer Advisors Inc.’s 5th Largest Position

Pacer Advisors Inc. lessened its stake in AT&T Inc. (NYSE:T) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,441,846 shares of the technology company’s stock after selling 2,672,034 shares during the period. AT&T comprises approximately 1.2% of Pacer Advisors Inc.’s investment portfolio, making the stock its 5th largest holding. Pacer Advisors Inc. owned 0.35% of AT&T worth $559,721,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC increased its holdings in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. American Capital Advisory LLC raised 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 acquiring an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter worth approximately $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on T. Evercore ISI raised their price target 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. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Oppenheimer upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

Shares of NYSE T opened at $22.83 on Thursday. The stock’s 50-day simple moving average is $21.96 and its 200-day simple moving average is $19.86. The firm has a market capitalization of $163.81 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

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.