GM Advisory Group LLC Sells 40,826 Shares of AT&T Inc. (NYSE:T)

GM Advisory Group LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 57.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,265 shares of the technology company's stock after selling 40,826 shares during the quarter. GM Advisory Group LLC's holdings in AT&T were worth $666,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Davidson Kempner Capital Management LP bought a new position in AT&T in the 2nd quarter valued at $23,888,000. Swiss National Bank raised its position in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company's stock worth $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Caprock Group LLC raised its position in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company's stock worth $4,312,000 after acquiring an additional 30,281 shares during the last quarter. Talbot Financial LLC bought a new stake in shares of AT&T during the third quarter worth $7,438,000. Finally, Mackenzie Financial Corp raised its position in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company's stock worth $50,486,000 after acquiring an additional 288,093 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.9 %

NYSE:T traded up $0.20 on Friday, reaching $23.18. The company's stock had a trading volume of 35,732,870 shares, compared to its average volume of 31,071,468. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.29. 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 market cap of $166.32 billion, a PE ratio of 18.85, a PEG ratio of 3.45 and a beta of 0.59. The business's 50-day moving average price is $22.02 and its two-hundred day moving average price is $19.94.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The company's revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. AT&T's dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

T has been the subject of a number of recent research reports. Royal Bank of Canada restated a "sector perform" rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Redburn Atlantic upgraded AT&T to a "strong sell" rating in a research report on Monday, September 16th. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Finally, Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the company a "buy" rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.40.

AT&T Company 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.