Tower Wealth Partners Inc. Trims Stock Holdings in AT&T Inc. (NYSE:T)

Tower Wealth Partners Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,916 shares of the technology company’s stock after selling 1,085 shares during the quarter. Tower Wealth Partners Inc.’s holdings in AT&T were worth $416,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Hayek Kallen Investment Management boosted its position in AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after buying an additional 500 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of AT&T by 0.7% in the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after acquiring an additional 513 shares in the last quarter. Octavia Wealth Advisors LLC grew its position in AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares in the last quarter. Finally, WealthCare Investment Partners LLC raised its position in AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on T. Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Trading Down 1.9 %

NYSE:T opened at $22.12 on Friday. The company has a market cap of $158.72 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.46 and a twelve month high of $22.73. The business has a 50 day moving average price of $21.47 and a two-hundred day moving average price of $19.31. 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. As a group, analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.