Acorn Wealth Advisors LLC Has $494,000 Holdings in AT&T Inc. (NYSE:T)

Acorn Wealth Advisors LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,470 shares of the technology company’s stock after selling 933 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in AT&T were worth $494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of T. 1832 Asset Management L.P. increased its stake in shares of AT&T by 70.1% in the first quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock worth $42,000 after acquiring an additional 979 shares during the last quarter. Mount Yale Investment Advisors LLC increased its holdings in AT&T by 5.7% in the first quarter. Mount Yale Investment Advisors LLC now owns 31,387 shares of the technology company’s stock worth $552,000 after buying an additional 1,687 shares during the last quarter. Caxton Associates LP raised its position in AT&T by 207.6% during the first quarter. Caxton Associates LP now owns 51,025 shares of the technology company’s stock valued at $898,000 after acquiring an additional 34,437 shares in the last quarter. Waverly Advisors LLC increased its stake in shares of AT&T by 30.2% during the 1st quarter. Waverly Advisors LLC now owns 279,283 shares of the technology company’s stock worth $4,915,000 after purchasing an additional 64,804 shares during the last quarter. Finally, Invenomic Capital Management LP increased its position in AT&T by 2.7% during the first quarter. Invenomic Capital Management LP now owns 2,526,822 shares of the technology company’s stock worth $44,472,000 after buying an additional 66,913 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of several recent analyst reports. Barclays upped their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Citigroup boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Down 0.0 %

Shares of T stock traded down $0.01 during trading hours on Monday, hitting $23.17. 2,503,267 shares of the company were exchanged, compared to its average volume of 35,203,648. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $23.32. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average of $22.02 and a two-hundred day moving average of $19.96. The company has a market capitalization of $166.25 billion, a PE ratio of 18.85, a PEG ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during 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%. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is currently 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.