SMH Capital Advisors Inc. Lowers Stock Position in AT&T Inc. (NYSE:T)

SMH Capital Advisors Inc. lowered its position in shares of AT&T Inc. (NYSE:T) by 2.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 26,107 shares of the technology company’s stock after selling 607 shares during the quarter. AT&T makes up about 1.5% of SMH Capital Advisors Inc.’s holdings, making the stock its 12th biggest holding. SMH Capital Advisors Inc.’s holdings in AT&T were worth $499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. Strategic Financial Concepts LLC lifted its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC boosted its position in AT&T by 107.5% in the second 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 last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $21.74 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. The company has a fifty day moving average of $19.78 and a two-hundred day moving average of $18.28. The company has a market capitalization of $155.84 billion, a PE ratio of 11.69, a P/E/G ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 analyst estimates of $30.05 billion. During the same period last year, the firm posted $0.63 EPS. AT&T’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.31.

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.