McIlrath & Eck LLC Trims Stake in AT&T Inc. (NYSE:T)

McIlrath & Eck LLC lessened its position in AT&T Inc. (NYSE:T) by 16.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,746 shares of the technology company’s stock after selling 1,953 shares during the quarter. McIlrath & Eck LLC’s holdings in AT&T were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Chesapeake Wealth Management grew its holdings in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC boosted its position in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC grew its stake in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares during the last quarter. Essex Savings Bank increased its position in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares in the last quarter. Finally, Hayek Kallen Investment Management raised its stake in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after buying an additional 500 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein assumed coverage on AT&T in a research note on Tuesday. They set an “outperform” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.00.

AT&T Stock Up 0.7 %

T opened at $23.53 on Wednesday. The stock has a market cap of $168.80 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm’s fifty day moving average is $22.39 and its 200 day moving average is $20.43. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 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.