KPP Advisory Services LLC Decreases Stock Position in AT&T Inc. (NYSE:T)

KPP Advisory Services LLC cut its holdings in AT&T Inc. (NYSE:T) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,989 shares of the technology company’s stock after selling 3,349 shares during the period. KPP Advisory Services LLC’s holdings in AT&T were worth $2,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC increased its stake in shares of AT&T by 27.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 44,033 shares of the technology company’s stock valued at $775,000 after acquiring an additional 9,602 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in AT&T by 2.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 71,279 shares of the technology company’s stock worth $1,255,000 after purchasing an additional 1,716 shares in the last quarter. M&G Plc acquired a new stake in AT&T during the 1st quarter worth approximately $9,074,000. Mizuho Markets Americas LLC acquired a new stake in AT&T during the 1st quarter worth approximately $6,321,000. Finally, Spirepoint Private Client LLC acquired a new stake in AT&T during the 1st quarter worth approximately $227,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

AT&T stock traded up $0.43 during mid-day trading on Friday, reaching $22.68. The company’s stock had a trading volume of 40,207,263 shares, compared to its average volume of 35,514,727. The firm has a market cap of $162.74 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 3.35 and a beta of 0.59. The business has a 50 day moving average price of $21.89 and a 200-day moving average price of $19.71. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.75 and a twelve month high of $22.75.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

A number of research firms recently issued reports on T. Barclays increased their target price on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer upped their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup upped their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $23.40.

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.