MPS Loria Financial Planners LLC Trims Stock Position in AT&T Inc. (NYSE:T)

by · The Cerbat Gem

MPS Loria Financial Planners LLC cut its stake in AT&T Inc. (NYSE:T – Free Report) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,790 shares of the technology company’s stock after selling 1,076 shares during the period. MPS Loria Financial Planners LLC’s holdings in AT&T were worth $281,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davidson Kempner Capital Management LP acquired a new position in AT&T in the second quarter valued at $23,888,000. Talbot Financial LLC acquired a new position in AT&T in the third quarter valued at $7,438,000. Mackenzie Financial Corp increased its stake in AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC increased its stake in AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after purchasing an additional 43,062 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. One equities 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

Check Out Our Latest Report on AT&T

AT&T Stock Performance

Shares of T stock opened at $21.67 on Tuesday. AT&T Inc. has a one year low of $14.74 and a one year high of $22.34. 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 company has a 50 day moving average price of $20.99 and a 200 day moving average price of $19.01. The firm has a market capitalization of $155.38 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is currently 63.79%.

AT&T Company Profile

(Free Report)

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.

Further Reading

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