Optimum Investment Advisors decreased its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,284 shares of the technology company’s stock after selling 2,600 shares during the quarter. Optimum Investment Advisors’ holdings in AT&T were worth $644,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Strategic Financial Concepts LLC boosted its holdings in 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 buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in 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 valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its holdings in 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 purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.
AT&T Price Performance
AT&T stock opened at $21.74 on Friday. AT&T Inc. has a 12-month low of $14.31 and a 12-month high of $22.34. The stock has a market cap of $155.84 billion, a P/E ratio of 11.69, a PEG ratio of 3.63 and a beta of 0.60. The company has a 50-day moving average price of $20.90 and a 200 day moving average price of $18.93. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on T shares. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Moffett Nathanson increased their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.
View Our Latest Research Report on AT&T
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.
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