Empire Financial Management Company LLC Sells 1,437 Shares of AT&T Inc. (NYSE:T)

Empire Financial Management Company LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,996 shares of the technology company’s stock after selling 1,437 shares during the quarter. Empire Financial Management Company LLC’s holdings in AT&T were worth $858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Riggs Asset Managment Co. Inc. increased 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 worth $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Finally, Safe Harbor Fiduciary LLC purchased a new position in AT&T during the third quarter valued at $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.7 %

Shares of NYSE T opened at $23.53 on Wednesday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The firm has a market capitalization of $168.80 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.63 and a beta of 0.59. The stock has a 50 day moving average price of $22.39 and a 200 day moving average price of $20.43. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last issued 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 net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the business earned $0.64 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.72%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on T. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup upped their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

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.