Founders Financial Securities LLC Sells 22,696 Shares of AT&T Inc. $T

Founders Financial Securities LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 55.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,567 shares of the technology company’s stock after selling 22,696 shares during the period. Founders Financial Securities LLC’s holdings in AT&T were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chatham Capital Group Inc. increased its position in AT&T by 5.3% in the 3rd quarter. Chatham Capital Group Inc. now owns 16,824 shares of the technology company’s stock valued at $475,000 after acquiring an additional 850 shares during the period. Swedbank AB grew its stake in shares of AT&T by 0.6% in the third quarter. Swedbank AB now owns 3,450,014 shares of the technology company’s stock worth $97,428,000 after purchasing an additional 18,884 shares during the last quarter. Optas LLC grew its stake in shares of AT&T by 2.6% in the third quarter. Optas LLC now owns 25,046 shares of the technology company’s stock worth $707,000 after purchasing an additional 632 shares during the last quarter. Kelly Financial Services LLC increased its holdings in AT&T by 6.3% in the third quarter. Kelly Financial Services LLC now owns 12,175 shares of the technology company’s stock valued at $344,000 after purchasing an additional 723 shares during the period. Finally, Revolve Wealth Partners LLC raised its position in AT&T by 34.1% during the 3rd quarter. Revolve Wealth Partners LLC now owns 17,280 shares of the technology company’s stock worth $488,000 after purchasing an additional 4,393 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Tuesday, November 11th. The Goldman Sachs Group cut their price objective on AT&T from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of AT&T in a research report on Monday. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.24.

AT&T Trading Up 0.6%

Shares of T stock opened at $24.60 on Friday. The company has a market cap of $174.40 billion, a P/E ratio of 7.99, a PEG ratio of 1.44 and a beta of 0.38. The stock has a 50 day simple moving average of $25.10 and a two-hundred day simple moving average of $27.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.