Compass Ion Advisors LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Compass Ion Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 11.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,331 shares of the technology company’s stock after selling 2,078 shares during the quarter. Compass Ion Advisors LLC’s holdings in AT&T were worth $337,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC increased its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in AT&T during the 2nd quarter valued at $30,000. Marquette Asset Management LLC bought a new stake in AT&T in the third quarter worth $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in AT&T by 176.6% during 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 buying an additional 1,192 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $21.85 on Monday. AT&T Inc. has a 1-year low of $14.74 and a 1-year high of $22.34. The business has a 50-day moving average price of $20.95 and a 200 day moving average price of $18.98. The company has a market capitalization of $156.67 billion, a P/E ratio of 11.75, a PEG ratio of 3.63 and a beta of 0.60. 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 (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts forecast 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 dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on T. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

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.