1620 Investment Advisors Inc. Sells 509 Shares of AT&T Inc. (NYSE:T)

1620 Investment Advisors Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,740 shares of the technology company’s stock after selling 509 shares during the period. 1620 Investment Advisors Inc.’s holdings in AT&T were worth $566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strategic Financial Concepts LLC raised its holdings in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its position in shares of AT&T by 356.5% in 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 during the period. American Capital Advisory LLC raised its stake in AT&T by 107.5% in 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 bought a new stake in AT&T during the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake 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 worth $35,000 after buying an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.8 %

Shares of AT&T stock opened at $22.01 on Thursday. The stock has a fifty day simple moving average of $21.36 and a 200 day simple moving average of $19.25. The company has a market capitalization of $157.82 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.25 and a 12-month high of $22.58.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 analyst estimates of $30.50 billion. During the same period last year, the company posted $0.64 earnings per share. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. 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 research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Barclays upped their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given 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, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

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.