Icon Wealth Advisors LLC Has $43,000 Stock Position in AT&T Inc. (NYSE:T)

Icon Wealth Advisors LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 96.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,955 shares of the technology company’s stock after selling 49,094 shares during the quarter. Icon Wealth Advisors LLC’s holdings in AT&T were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of T. Chesapeake Wealth Management boosted its holdings in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC lifted its stake in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares during the last quarter. Essex Savings Bank raised its position in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares in the last quarter. Hayek Kallen Investment Management raised its position in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its position in AT&T by 2.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock valued at $537,000 after purchasing an additional 501 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

NYSE:T opened at $23.18 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $22.02 and its two-hundred day moving average is $19.96. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $23.29. The stock has a market capitalization of $166.32 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59.

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

AT&T Dividend Announcement

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 $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on T shares. Barclays lifted their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company reduced their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.40.

About AT&T

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.