Miracle Mile Advisors LLC Reduces Position in AT&T Inc. (NYSE:T)

Miracle Mile Advisors LLC lowered its position in AT&T Inc. (NYSE:T) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,078 shares of the technology company’s stock after selling 7,070 shares during the quarter. Miracle Mile Advisors LLC’s holdings in AT&T were worth $799,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter worth approximately $30,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T during the third quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in AT&T in the 3rd quarter valued at $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

T stock opened at $21.90 on Thursday. The firm has a market cap of $157.14 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $21.28.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.07%. AT&T’s payout ratio is 90.24%.

Analyst Ratings Changes

A number of equities analysts have commented on T shares. Citigroup upped their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.76.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.