AT&T Inc. (NYSE:T) Stock Holdings Decreased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 11.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,396 shares of the technology company’s stock after selling 4,535 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in AT&T were worth $757,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its stake in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after acquiring an additional 13,201,774 shares during the period. AQR Capital Management LLC raised its position in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in AT&T during the 2nd quarter worth $78,570,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Performance

Shares of T opened at $22.30 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm’s 50 day moving average is $21.79 and its 200-day moving average is $19.63. AT&T Inc. has a 12-month low of $15.52 and a 12-month high of $22.73. The stock has a market capitalization of $160.01 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.33 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is 90.24%.

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.