Elevated Capital Advisors LLC Decreases Holdings in AT&T Inc. (NYSE:T)

Elevated Capital Advisors LLC lowered its position in AT&T Inc. (NYSE:T) by 2.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 49,710 shares of the technology company’s stock after selling 1,339 shares during the period. Elevated Capital Advisors LLC’s holdings in AT&T were worth $1,094,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Strategic Financial Concepts LLC raised its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC increased its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd bought a new stake in AT&T in the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. TD Cowen increased their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Down 0.7 %

AT&T stock opened at $21.51 on Wednesday. The firm has a market cap of $154.23 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 3.73 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.34. The stock has a fifty day simple moving average of $21.03 and a two-hundred day simple moving average of $19.04.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the firm posted $0.63 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

AT&T Company 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.