AT&T Inc. (NYSE:T) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 96.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,955 shares of the technology company’s stock after selling 49,094 shares during the period. Icon Wealth Advisors LLC’s holdings in AT&T were worth $43,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allen Capital Group LLC lifted its stake in AT&T by 20.8% in the 3rd quarter. Allen Capital Group LLC now owns 20,643 shares of the technology company’s stock valued at $454,000 after buying an additional 3,549 shares in the last quarter. CFS Investment Advisory Services LLC increased its holdings in shares of AT&T by 6.1% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 22,588 shares of the technology company’s stock worth $497,000 after buying an additional 1,304 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of AT&T by 6.5% during the 3rd quarter. Raymond James Trust N.A. now owns 470,799 shares of the technology company’s stock worth $10,358,000 after buying an additional 28,698 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in shares of AT&T by 30.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 832,999 shares of the technology company’s stock worth $18,609,000 after buying an additional 195,314 shares during the last quarter. Finally, Investors Research Corp increased its holdings in AT&T by 1.6% in the 3rd quarter. Investors Research Corp now owns 76,132 shares of the technology company’s stock valued at $1,675,000 after purchasing an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $23.18 on Monday. 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 Inc. has a one year low of $15.94 and a one year high of $23.29. The company’s 50-day simple moving average is $22.02 and its 200-day simple moving average is $19.96. The stock has a market capitalization of $166.32 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.45 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly 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 business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. AT&T’s payout ratio is 90.24%.

Analyst Ratings Changes

Several analysts recently issued reports on T shares. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Oppenheimer increased their price target on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Finally, Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target 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.