Magnus Financial Group LLC Has $437,000 Position in AT&T Inc. (NYSE:T)

Magnus Financial Group LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,845 shares of the technology company’s stock after selling 514 shares during the quarter. Magnus Financial Group LLC’s holdings in AT&T were worth $437,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. lifted 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 acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC lifted its stake 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 valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T in the second quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new stake in AT&T in the third quarter valued at approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in AT&T by 176.6% in 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 acquiring an additional 1,192 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 1.2 %

Shares of T stock opened at $21.53 on Wednesday. AT&T Inc. has a 52-week low of $14.23 and a 52-week high of $22.34. The stock has a market cap of $154.34 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 3.62 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a fifty day moving average of $20.81 and a 200-day moving average of $18.89.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue was down .3% 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 fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on T shares. Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Moffett Nathanson lifted their price target 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. UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Finally, Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.69.

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.