Stratos Wealth Advisors LLC Reduces Holdings in AT&T Inc. $T

Stratos Wealth Advisors LLC lowered its position in AT&T Inc. (NYSE:T) by 4.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 48,340 shares of the technology company’s stock after selling 2,320 shares during the period. Stratos Wealth Advisors LLC’s holdings in AT&T were worth $1,399,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of T. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T in the 2nd quarter valued at about $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $1,072,128,000. GQG Partners LLC increased its holdings in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on T shares. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. The Goldman Sachs Group began coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.65.

AT&T Price Performance

Shares of T opened at $26.33 on Friday. The firm has a 50-day simple moving average of $28.27 and a two-hundred day simple moving average of $27.81. The stock has a market cap of $188.24 billion, a PE ratio of 14.96, a P/E/G ratio of 2.13 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.2%. AT&T’s dividend payout ratio is presently 63.07%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.