FSM Wealth Advisors LLC Sells 967 Shares of AT&T Inc. (NYSE:T)

FSM Wealth Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,269 shares of the technology company’s stock after selling 967 shares during the quarter. FSM Wealth Advisors LLC’s holdings in AT&T were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP acquired a new position in shares of AT&T during the 2nd quarter worth about $23,888,000. Talbot Financial LLC acquired a new position in shares of AT&T during the 3rd quarter worth about $7,438,000. Mackenzie Financial Corp increased its stake in shares of AT&T by 12.2% during 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 during the last quarter. DRW Securities LLC increased its stake in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on T. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. TD Cowen upped their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. 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 note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Price Performance

Shares of NYSE:T opened at $22.06 on Wednesday. The company has a market cap of $158.29 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 3.32 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $21.56 and a 200 day simple moving average of $19.44. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during 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 firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.03%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

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.