Integrated Wealth Concepts LLC Decreases Stake in AT&T Inc. (NYSE:T)

Integrated Wealth Concepts LLC lowered its position in AT&T Inc. (NYSE:T) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 264,750 shares of the technology company’s stock after selling 5,843 shares during the period. Integrated Wealth Concepts LLC’s holdings in AT&T were worth $5,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Chesapeake Wealth Management grew its holdings in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC boosted its position in AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its position in AT&T by 1.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares during the last quarter. Essex Savings Bank boosted its position in AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares during the last quarter. Finally, Hayek Kallen Investment Management boosted its position in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $23.55 on Thursday. The business has a 50 day moving average price of $22.28 and a 200 day moving average price of $20.28. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a market cap of $168.94 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 3.41 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.71%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Ratings Changes

A number of analysts recently issued reports on T shares. Barclays lifted their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI lifted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup boosted their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.07.

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.