Golden State Equity Partners Has $1.51 Million Stock Holdings in AT&T Inc. (NYSE:T)

Golden State Equity Partners reduced its position in AT&T Inc. (NYSE:T) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 68,703 shares of the technology company’s stock after selling 3,929 shares during the period. Golden State Equity Partners’ holdings in AT&T were worth $1,511,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC raised its position in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in 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 worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC lifted its stake in 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 purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in AT&T in the 2nd quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 0.2 %

Shares of NYSE:T traded up $0.04 during trading on Wednesday, reaching $22.22. 1,455,033 shares of the company were exchanged, compared to its average volume of 35,499,563. The business’s fifty day simple moving average is $21.31 and its 200-day simple moving average is $19.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12-month low of $15.25 and a 12-month high of $22.58. The firm has a market capitalization of $159.32 billion, a PE ratio of 18.03, a P/E/G ratio of 3.74 and a beta of 0.60.

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. 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 during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup raised their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average 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.