Sheaff Brock Investment Advisors LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Sheaff Brock Investment Advisors LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,056 shares of the technology company’s stock after selling 7,670 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in AT&T were worth $1,462,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of AT&T in the 4th quarter worth $11,554,000. Provence Wealth Management Group grew its stake in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after buying an additional 5,807 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares in the last quarter. Retireful LLC purchased a new position in shares of AT&T in the 4th quarter worth $1,163,000. Finally, Brighton Jones LLC grew its stake in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after buying an additional 5,161 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Barclays raised their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday. Scotiabank raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a report on Thursday. Finally, TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Down 0.9 %

Shares of NYSE:T traded down $0.18 during trading hours on Friday, hitting $19.01. The company’s stock had a trading volume of 30,764,250 shares, compared to its average volume of 36,830,707. AT&T Inc. has a 52 week low of $13.89 and a 52 week high of $19.74. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.63. The company has a market capitalization of $136.30 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 3.67 and a beta of 0.58. The firm’s fifty day moving average price is $18.29 and its 200 day moving average price is $17.45.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

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.