ShoreHaven Wealth Partners LLC Sells 509 Shares of AT&T Inc. (NYSE:T)

ShoreHaven Wealth Partners LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 3.3% during the third quarter, Holdings Channel.com reports. The firm owned 14,774 shares of the technology company’s stock after selling 509 shares during the quarter. ShoreHaven Wealth Partners LLC’s holdings in AT&T were worth $325,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky lifted its holdings in AT&T by 48.4% in the first quarter. Independence Bank of Kentucky now owns 6,243 shares of the technology company’s stock valued at $110,000 after buying an additional 2,037 shares during the period. Breakwater Capital Group lifted its holdings in AT&T by 8.7% in the first quarter. Breakwater Capital Group now owns 33,432 shares of the technology company’s stock valued at $588,000 after buying an additional 2,662 shares during the period. Roberts Wealth Advisors LLC lifted its holdings in AT&T by 6.1% in the first quarter. Roberts Wealth Advisors LLC now owns 82,700 shares of the technology company’s stock valued at $1,343,000 after buying an additional 4,753 shares during the period. Aviance Capital Partners LLC lifted its holdings in AT&T by 7.4% in the first quarter. Aviance Capital Partners LLC now owns 23,060 shares of the technology company’s stock valued at $406,000 after buying an additional 1,595 shares during the period. Finally, Diversified Trust Co lifted its holdings in AT&T by 12.5% in the first quarter. Diversified Trust Co now owns 147,249 shares of the technology company’s stock valued at $2,592,000 after buying an additional 16,355 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 1.7 %

NYSE:T opened at $21.83 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a 50-day moving average of $21.20 and a 200-day moving average of $19.13. The company has a market cap of $156.52 billion, a PE ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. AT&T Inc. has a one year low of $14.74 and a one year high of $22.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed 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 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

Several equities analysts recently issued reports on T shares. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Oppenheimer boosted their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.