Affinity Investment Advisors LLC Sells 471 Shares of AT&T Inc. (NYSE:T)

Affinity Investment Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 1.2% during the third quarter, Holdings Channel.com reports. The fund owned 40,281 shares of the technology company’s stock after selling 471 shares during the period. Affinity Investment Advisors LLC’s holdings in AT&T were worth $886,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in T. Riggs Asset Managment Co. Inc. raised its stake 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 purchasing an additional 1,116 shares during the period. American Capital Advisory LLC grew its holdings in 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 buying an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $35,000. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the second quarter worth $30,000. Finally, Marquette Asset Management LLC bought a new position in shares of AT&T during the third quarter worth $36,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Down 1.9 %

Shares of NYSE T opened at $22.12 on Friday. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73. The firm has a 50-day simple moving average of $21.47 and a two-hundred day simple moving average of $19.31. The company has a market cap of $158.72 billion, a P/E ratio of 17.98, a PEG ratio of 3.31 and a beta of 0.60. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its quarterly earnings results 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. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is presently 90.24%.

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.