Keating Investment Counselors Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 8.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,840 shares of the technology company’s stock after selling 2,100 shares during the period. Keating Investment Counselors Inc.’s holdings in AT&T were worth $651,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Jaffetilchin Investment Partners LLC grew its holdings in AT&T by 10.4% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock worth $37,000 after acquiring an additional 1,248 shares in the last quarter. Cerebellum GP LLC acquired a new position in AT&T during the 3rd quarter worth approximately $62,000. NWK Group Inc. acquired a new position in AT&T during the 2nd quarter worth approximately $65,000. JJJ Advisors Inc. grew its holdings in AT&T by 212.3% during the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Provident Wealth Management LLC acquired a new position in AT&T during the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.
NYSE T traded down $0.54 during trading hours on Monday, reaching $27.28. The company’s stock had a trading volume of 729,357 shares, compared to its average volume of 39,324,133. The stock has a market cap of $198.22 billion, a PE ratio of 17.07, a PEG ratio of 1.52 and a beta of 0.69. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The company’s 50-day moving average is $28.47 and its two-hundred day moving average is $29.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be issued a $0.52 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.08 annualized dividend and a yield of 7.62%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
T has been the subject of several recent analyst reports. Barclays initiated coverage on shares of AT&T in a research report on Friday, October 2nd. They set an “overweight” rating for the company. Wolfe Research initiated coverage on shares of AT&T in a research report on Monday, October 19th. They set a “peer perform” rating and a $31.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Scotiabank downgraded shares of AT&T from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $34.00 to $30.00 in a research report on Monday, August 31st. Finally, KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research report on Monday, October 5th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.38.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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