Captrust Financial Advisors Sells 271,514 Shares of AT&T Inc. (NYSE:T)

Captrust Financial Advisors lessened its stake in shares of AT&T Inc. (NYSE:T) by 10.2% in the 3rd quarter, Holdings Channel reports. The firm owned 2,387,073 shares of the technology company’s stock after selling 271,514 shares during the period. Captrust Financial Advisors’ holdings in AT&T were worth $51,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of AT&T by 4.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,402,421 shares of the technology company’s stock worth $42,157,000 after acquiring an additional 94,566 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of AT&T by 493.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 123,987 shares of the technology company’s stock worth $2,182,000 after acquiring an additional 103,102 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in AT&T by 59.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 16,930 shares of the technology company’s stock valued at $286,000 after acquiring an additional 6,327 shares during the period. Bright Futures Wealth Management LLC. purchased a new stake in AT&T in the first quarter worth $207,000. Finally, Transcend Capital Advisors LLC increased its stake in AT&T by 4.3% in the second quarter. Transcend Capital Advisors LLC now owns 42,008 shares of the technology company’s stock worth $803,000 after purchasing an additional 1,733 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $23.16 on Friday. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38. The firm has a market cap of $166.18 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.49 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 has a 50-day simple moving average of $22.17 and a two-hundred day simple moving average of $20.13.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating 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 analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.79%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on T. Oppenheimer upped their price target on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” 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 research note on Thursday, August 15th. Evercore ISI raised their target price 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. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Citigroup increased their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.53.

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.