PFG Investments LLC Has $6.30 Million Position in AT&T Inc. (NYSE:T)

PFG Investments LLC cut its holdings in AT&T Inc. (NYSE:T) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 286,115 shares of the technology company’s stock after selling 17,871 shares during the quarter. PFG Investments LLC’s holdings in AT&T were worth $6,295,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in T. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% in 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 last quarter. American Capital Advisory LLC boosted its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T during the 2nd quarter worth $30,000. Marquette Asset Management LLC bought a new stake in shares of AT&T during the 3rd quarter valued at $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Down 1.7 %

NYSE T traded down $0.37 during trading on Friday, hitting $21.83. The stock had a trading volume of 26,050,390 shares, compared to its average volume of 35,713,988. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company’s 50-day moving average price is $21.20 and its two-hundred day moving average price is $19.12. The company has a market capitalization of $156.52 billion, a PE ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. AT&T’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Evercore ISI lifted their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. TD Cowen increased their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

About AT&T

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.