Insigneo Advisory Services LLC Lowers Holdings in AT&T Inc. (NYSE:T)

Insigneo Advisory Services LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,606 shares of the technology company’s stock after selling 12,810 shares during the period. Insigneo Advisory Services LLC’s holdings in AT&T were worth $1,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in T. Ritter Daniher Financial Advisory LLC DE boosted its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC raised its holdings in 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 in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T during the third quarter valued at about $35,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of AT&T during the third quarter valued at about $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE T opened at $23.88 on Friday. 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 stock’s 50 day simple moving average is $22.32 and its 200-day simple moving average is $20.30. The company has a market cap of $171.35 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.19 EPS 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 given 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 4.65%. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.73.

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.