Cladis Investment Advisory LLC Sells 6,469 Shares of AT&T Inc. (NYSE:T)

Cladis Investment Advisory LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 6.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,218 shares of the technology company’s stock after selling 6,469 shares during the period. AT&T accounts for 1.4% of Cladis Investment Advisory LLC’s portfolio, making the stock its 18th largest holding. Cladis Investment Advisory LLC’s holdings in AT&T were worth $2,051,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of T. EverSource Wealth Advisors LLC grew its holdings in shares of AT&T by 59.7% in the first quarter. EverSource Wealth Advisors LLC now owns 16,930 shares of the technology company’s stock valued at $286,000 after purchasing an additional 6,327 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of AT&T by 11.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 32,645 shares of the technology company’s stock worth $624,000 after buying an additional 3,305 shares in the last quarter. Quent Capital LLC increased its holdings in shares of AT&T by 27.0% in the 2nd quarter. Quent Capital LLC now owns 16,555 shares of the technology company’s stock worth $316,000 after buying an additional 3,523 shares during the last quarter. Mather Group LLC. raised its position in shares of AT&T by 151.8% during the 2nd quarter. Mather Group LLC. now owns 48,059 shares of the technology company’s stock valued at $846,000 after buying an additional 28,970 shares in the last quarter. Finally, Lynx Investment Advisory bought a new position in shares of AT&T in the 2nd quarter valued at about $55,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T stock opened at $23.16 on Monday. The business has a 50-day moving average price of $22.17 and a 200 day moving average price of $20.17. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.38. The company has a market capitalization of $166.18 billion, a P/E ratio of 18.83, a PEG ratio of 3.48 and a beta of 0.59. 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 data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on T shares. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Barclays lifted their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Oppenheimer raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup upped their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

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.