Consolidated Planning Corp Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Consolidated Planning Corp lowered its holdings in AT&T Inc. (NYSE:T) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 298,162 shares of the technology company’s stock after selling 1,692 shares during the period. AT&T comprises 1.0% of Consolidated Planning Corp’s holdings, making the stock its 29th largest position. Consolidated Planning Corp’s holdings in AT&T were worth $6,560,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of T. Strategic Financial Concepts LLC grew its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its stake in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC increased its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in AT&T in the 2nd quarter valued at about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings 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 valued at $35,000 after purchasing an additional 1,192 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $22.05 on Friday. The stock’s 50 day moving average price is $21.61 and its 200-day moving average price is $19.46. AT&T Inc. has a 52-week low of $15.46 and a 52-week high of $22.73. The stock has a market capitalization of $158.22 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the company posted $0.64 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Oppenheimer boosted their price objective on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.40.

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.