Inlet Private Wealth LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Inlet Private Wealth LLC decreased its holdings in AT&T Inc. (NYSE:T) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,850 shares of the technology company’s stock after selling 1,500 shares during the period. Inlet Private Wealth LLC’s holdings in AT&T were worth $1,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hayek Kallen Investment Management grew its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 500 shares during the last quarter. Octavia Wealth Advisors LLC grew its stake in shares of AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC increased its holdings in AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after buying an additional 521 shares in the last quarter. WealthCare Investment Partners LLC raised its holdings in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares during the last quarter. Finally, Integral Investment Advisors Inc. boosted its position in shares of AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price 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. Finally, Moffett Nathanson upped their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Stock Down 0.0 %

NYSE T traded down $0.01 during trading on Thursday, reaching $21.70. The company’s stock had a trading volume of 7,887,397 shares, compared to its average volume of 35,492,773. The business has a 50-day moving average price of $20.86 and a 200-day moving average price of $18.91. AT&T Inc. has a 1-year low of $14.31 and a 1-year high of $22.34. The stock has a market capitalization of $155.59 billion, a PE ratio of 11.68, a PEG ratio of 3.62 and a beta of 0.60. 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 (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the business posted $0.63 EPS. AT&T’s revenue was down .3% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.12%. AT&T’s dividend payout ratio is currently 59.68%.

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.