Investors Asset Management of Georgia Inc. GA ADV Trims Stake in AT&T Inc. (NYSE:T)
Investors Asset Management of Georgia Inc. GA ADV lowered its position in AT&T Inc. (NYSE:T) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,863 shares of the technology company’s stock after selling 1,000 shares during the quarter. AT&T makes up approximately 1.0% of Investors Asset Management of Georgia Inc. GA ADV’s portfolio, making the stock its 23rd biggest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in AT&T were worth $1,479,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC boosted its stake in shares of AT&T by 10.4% during the second quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock worth $37,000 after buying an additional 1,248 shares during the period. NWK Group Inc. purchased a new position in shares of AT&T in the 2nd quarter valued at approximately $65,000. JJJ Advisors Inc. grew its stake in shares of AT&T by 212.3% in the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the last quarter. Provident Wealth Management LLC acquired a new position in shares of AT&T in the third quarter valued at approximately $70,000. Finally, Litman Gregory Asset Management LLC raised its stake in shares of AT&T by 844.0% during the second quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,667 shares during the last quarter. 52.29% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on T shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Morgan Stanley reduced their price objective on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Barclays initiated coverage on AT&T in a report on Friday, October 2nd. They issued an “overweight” rating on the stock. Royal Bank of Canada raised their price target on AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $36.00 price objective on shares of AT&T in a report on Friday, July 24th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.56.
Shares of NYSE T opened at $27.33 on Friday. The firm’s 50-day moving average is $28.84 and its two-hundred day moving average is $29.74. The company has a market capitalization of $194.73 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81.
AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The firm had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. On average, analysts forecast that AT&T Inc. will post 3.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.61%. AT&T’s dividend payout ratio (DPR) is 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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