Corrado Advisors LLC Has $2.20 Million Stock Holdings in AT&T Inc. (NYSE:T)

Corrado Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,333 shares of the technology company’s stock after selling 5,012 shares during the period. AT&T comprises 1.8% of Corrado Advisors LLC’s holdings, making the stock its 20th largest position. Corrado Advisors LLC’s holdings in AT&T were worth $2,204,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Carmel Capital Partners LLC lifted its stake in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new stake in AT&T in the 3rd quarter valued at about $30,000. Ramirez Asset Management Inc. acquired a new stake in AT&T in the 3rd quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its stake in AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 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 NYSE:T traded up $0.20 during mid-day trading on Tuesday, reaching $16.51. 47,772,969 shares of the company’s stock were exchanged, compared to its average volume of 38,895,176. The firm has a market capitalization of $118.09 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 2.49 and a beta of 0.57. The business’s fifty day moving average price is $16.99 and its 200-day moving average price is $16.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16.

AT&T (NYSE:T) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the prior year, the business earned $0.61 EPS. AT&T’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 56.63%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Tigress Financial raised their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

AT&T 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.