D.A. Davidson & CO. Has $11.30 Million Position in AT&T Inc. $T

D.A. Davidson & CO. lessened its holdings in AT&T Inc. (NYSE:T) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400,171 shares of the technology company’s stock after selling 38,847 shares during the period. D.A. Davidson & CO.’s holdings in AT&T were worth $11,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in T. Front Row Advisors LLC acquired a new position in shares of AT&T in the second quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the 2nd quarter worth about $26,000. Solstein Capital LLC grew its stake in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares during the last quarter. Kennebec Savings Bank grew its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the last quarter. Finally, Curio Wealth LLC raised its holdings in AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,044 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Barclays dropped their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. The Goldman Sachs Group lowered their price objective on AT&T from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Finally, TD Cowen boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.24.

AT&T Stock Performance

T opened at $24.71 on Tuesday. 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 52-week low of $21.38 and a 52-week high of $29.79. The firm has a market cap of $175.14 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.31 and a beta of 0.39. The business’s fifty day moving average is $24.98 and its 200-day moving average is $26.88.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s payout ratio is presently 36.04%.

AT&T Company Profile

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.