Acorn Wealth Advisors LLC Sells 933 Shares of AT&T Inc. (NYSE:T)

Acorn Wealth Advisors LLC decreased its position in AT&T Inc. (NYSE:T) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 22,470 shares of the technology company’s stock after selling 933 shares during the period. Acorn Wealth Advisors LLC’s holdings in AT&T were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings 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 purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC increased its position in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter valued at about $35,000. Finally, Altshuler Shaham Ltd bought a new stake in AT&T during the second quarter worth about $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on T. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company reduced their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays raised their price objective on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Tigress Financial boosted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One equities 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Down 0.0 %

Shares of NYSE:T traded down $0.01 during mid-day trading on Monday, hitting $23.17. 2,503,267 shares of the company traded hands, compared to its average volume of 35,203,648. The stock has a 50-day moving average price of $22.02 and a two-hundred day moving average price of $19.96. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.32. The stock has a market cap of $166.25 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.48 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the firm earned $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 (DPR) is currently 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.