Captrust Financial Advisors Trims Stock Holdings in AT&T Inc. (NYSE:T)

Captrust Financial Advisors decreased its position in AT&T Inc. (NYSE:T) by 10.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,387,073 shares of the technology company’s stock after selling 271,514 shares during the quarter. Captrust Financial Advisors’ holdings in AT&T were worth $51,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new position in AT&T during the 2nd quarter valued at approximately $23,888,000. Swiss National Bank grew its stake in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Caprock Group LLC increased its holdings in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Talbot Financial LLC purchased a new position in shares of AT&T in the 3rd quarter worth about $7,438,000. Finally, Mackenzie Financial Corp boosted its stake in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.5 %

T stock opened at $23.16 on Friday. The business’s 50-day moving average price is $22.17 and its 200-day moving average price is $20.13. The stock has a market cap of $166.18 billion, a P/E ratio of 18.83, a PEG ratio of 3.49 and a beta of 0.59. 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 Inc. has a twelve month low of $15.94 and a twelve month high of $23.38.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 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 revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. AT&T’s dividend payout ratio is presently 90.24%.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Citigroup upped their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One investment 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 data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

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.