AT&T Inc. $T Stock: Nisa Investment Advisors LLC Cuts Holdings

Nisa Investment Advisors LLC trimmed its stake in AT&T Inc. (NYSE:T) by 9.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,477,736 shares of the technology company’s stock after selling 158,380 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AT&T were worth $36,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Essex Bank boosted its stake in shares of AT&T by 2.5% during the 1st quarter. Essex Bank now owns 15,908 shares of the technology company’s stock worth $461,000 after purchasing an additional 385 shares during the last quarter. Bar Harbor Wealth Management raised its position in shares of AT&T by 1.1% in the first quarter. Bar Harbor Wealth Management now owns 35,102 shares of the technology company’s stock valued at $1,018,000 after buying an additional 386 shares during the last quarter. Hibernia Wealth Partners LLC lifted its stake in shares of AT&T by 4.5% during the first quarter. Hibernia Wealth Partners LLC now owns 9,105 shares of the technology company’s stock valued at $264,000 after buying an additional 392 shares during the period. M.E. Allison & CO. Inc. lifted its stake in shares of AT&T by 0.5% during the second quarter. M.E. Allison & CO. Inc. now owns 76,978 shares of the technology company’s stock valued at $1,593,000 after buying an additional 397 shares during the period. Finally, Accredited Investors Inc. lifted its stake in shares of AT&T by 3.5% during the first quarter. Accredited Investors Inc. now owns 11,901 shares of the technology company’s stock valued at $345,000 after buying an additional 400 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T stock opened at $23.41 on Wednesday. AT&T Inc. has a one year low of $19.89 and a one year high of $29.43. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. The company has a 50 day moving average price of $24.94 and a 200 day moving average price of $24.33. The firm has a market capitalization of $160.44 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The company had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $31.80 billion. AT&T had a net margin of 16.94% and a return on equity of 12.86%. AT&T’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.33 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, October 9th. AT&T’s dividend payout ratio is presently 36.75%.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Sanford C. Bernstein cut AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, October 13th. KeyCorp reaffirmed an “overweight” rating and issued a $36.00 price objective on shares of AT&T in a research report on Wednesday, October 7th. Wells Fargo & Company upped their target price on AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. TD Cowen increased their target price on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley raised their price target on AT&T from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $29.05.

AT&T News Roundup

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: Wall Street analysts have an average price target of approximately $29.05, well above AT&T’s recent trading level, suggesting potential upside if the company delivers an in-line or stronger-than-expected quarter. AT&T Inc. Stock Has Average Target Price of $29.05 According to Brokerages
• Positive Sentiment: AT&T is expanding its customer guarantee, including faster technical support, in an effort to improve service quality and retention as it competes with rivals. Better customer experience could support churn trends and recurring revenue. AT&T expands promises to customers as it trails rivals
• Positive Sentiment: A multiyear extension with the NBA and WNBA and the launch of a fourth-generation High-Speed Arena Network reinforce AT&T’s role as a connectivity partner and showcase its enterprise-network capabilities. AT&T, NBA and WNBA Launch Next-Generation Network
• Positive Sentiment: AT&T continues to appeal to income-focused investors, with reports highlighting its roughly 4.6% yield and stated intention to maintain its dividend at $1, potentially supporting valuation if cash flow remains steady. Better Dividend Stock for Retirees: AT&T vs. Comcast

AT&T Company Profile

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.