Garner Asset Management Corp Lowers Stake in AT&T Inc. (NYSE:T)

Garner Asset Management Corp lessened its position in shares of AT&T Inc. (NYSE:T) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 139,311 shares of the technology company’s stock after selling 3,993 shares during the period. AT&T makes up 1.4% of Garner Asset Management Corp’s portfolio, making the stock its 16th biggest position. Garner Asset Management Corp’s holdings in AT&T were worth $3,065,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC lifted its stake 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 worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its stake 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 worth $27,000 after purchasing an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares in the last quarter. American Capital Advisory LLC lifted its stake 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 worth $30,000 after purchasing an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in shares of AT&T during the second quarter worth about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on T shares. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Oppenheimer boosted their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Up 0.9 %

AT&T stock opened at $23.18 on Friday. 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 business’s 50-day simple moving average is $22.02 and its 200-day simple moving average is $19.94. The firm has a market capitalization of $166.32 billion, a PE ratio of 18.85, a PEG ratio of 3.45 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $23.29.

AT&T (NYSE:T) last released its earnings results 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 return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business 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 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend 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.