B. Riley Wealth Advisors Inc. Has $6.54 Million Holdings in AT&T Inc. (NYSE:T)

B. Riley Wealth Advisors Inc. decreased its position in AT&T Inc. (NYSE:T) by 24.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 297,022 shares of the technology company’s stock after selling 96,133 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in AT&T were worth $6,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T during the third quarter worth approximately $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $23.63 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a fifty day moving average of $22.50 and a 200-day moving average of $20.58. The firm has a market capitalization of $169.55 billion, a P/E ratio of 19.21, a P/E/G ratio of 3.57 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data 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. 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 quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $25.00.

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.