Founders Financial Securities LLC Has $524,000 Stock Position in AT&T Inc. $T

Founders Financial Securities LLC lowered its position in AT&T Inc. (NYSE:T) by 55.0% during the 3rd quarter, Holdings Channel reports. 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 SEC filing.

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

AT&T Trading Up 0.6%

NYSE:T opened at $24.60 on Friday. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The firm has a 50-day moving average price of $25.10 and a two-hundred day moving average price 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. The firm has a market cap of $174.40 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate 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 was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. On average, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid 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 is 36.04%.

Wall Street Analyst Weigh In

T has been the subject of a number of analyst reports. Wall Street Zen cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. The Goldman Sachs Group cut their price target on AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, December 19th. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Tuesday, November 11th. Citigroup dropped their target price on AT&T from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wells Fargo & Company cut their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.24.

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.