Phillips Wealth Planners LLC Trims Stock Position in AT&T Inc. (NYSE:T)

Phillips Wealth Planners LLC decreased its position in AT&T Inc. (NYSE:T) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,226 shares of the technology company’s stock after selling 1,266 shares during the period. Phillips Wealth Planners LLC’s holdings in AT&T were worth $222,000 as of its most recent SEC filing.

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

AT&T Stock Performance

NYSE:T opened at $22.12 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $158.72 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. The firm has a 50-day moving average price of $21.47 and a two-hundred day moving average price of $19.31. AT&T Inc. has a twelve month low of $15.46 and a twelve month high of $22.73.

AT&T (NYSE:T) last announced its quarterly earnings results 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 analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. As a group, research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on T shares. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.