Corrado Advisors LLC Has $2.36 Million Stock Holdings in AT&T Inc. (NYSE:T)

Corrado Advisors LLC trimmed its stake in AT&T Inc. (NYSE:T) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,419 shares of the technology company’s stock after selling 6,766 shares during the quarter. AT&T comprises about 1.5% of Corrado Advisors LLC’s holdings, making the stock its 21st biggest position. Corrado Advisors LLC’s holdings in AT&T were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Socha Financial Group LLC increased its position in AT&T by 2.5% during the 3rd 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 period. Hayek Kallen Investment Management increased its position in AT&T by 0.8% during the 3rd 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 period. Lake Street Advisors Group LLC increased its position in AT&T by 0.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 513 shares during the period. Spinnaker Trust grew its position in shares of AT&T by 0.4% in the 3rd quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock worth $2,741,000 after buying an additional 515 shares during the period. Finally, Octavia Wealth Advisors LLC grew its position in shares of AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

T opened at $22.37 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of $160.48 billion, a P/E ratio of 18.18, a P/E/G ratio of 3.35 and a beta of 0.59. The company’s 50-day simple moving average is $21.70 and its two-hundred day simple moving average is $19.52. AT&T Inc. has a 52-week low of $15.46 and a 52-week high of $22.73.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. Tigress Financial upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Oppenheimer upped their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Barclays upped 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.