Creative Financial Designs Inc. ADV Sells 2,859 Shares of AT&T Inc. (NYSE:T)

Creative Financial Designs Inc. ADV reduced its stake in AT&T Inc. (NYSE:T) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,698 shares of the technology company’s stock after selling 2,859 shares during the period. Creative Financial Designs Inc. ADV’s holdings in AT&T were worth $895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversify Advisory Services LLC purchased a new position in shares of AT&T during the 1st quarter valued at $1,036,000. Mission Wealth Management LP raised its holdings in shares of AT&T by 20.6% in the 1st quarter. Mission Wealth Management LP now owns 65,136 shares of the technology company’s stock valued at $1,146,000 after acquiring an additional 11,105 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of AT&T by 3.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,395,101 shares of the technology company’s stock valued at $42,154,000 after acquiring an additional 84,408 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of AT&T by 8.1% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 173,649 shares of the technology company’s stock worth $3,056,000 after purchasing an additional 12,948 shares in the last quarter. Finally, BNP Paribas bought a new position in shares of AT&T in the first quarter worth approximately $743,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on T. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Citigroup upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Oppenheimer upped their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Down 1.9 %

Shares of AT&T stock opened at $22.12 on Friday. AT&T Inc. has a twelve month low of $15.46 and a twelve month high of $22.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $21.47 and its 200 day moving average is $19.31. The company has a market cap of $158.72 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 3.31 and a beta of 0.60.

AT&T (NYSE:T) last released 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 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 company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. Research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

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

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.