B. Riley Wealth Advisors Inc. Sells 96,133 Shares of AT&T Inc. (NYSE:T)

B. Riley Wealth Advisors Inc. lessened its position in shares of AT&T Inc. (NYSE:T - Free Report) by 24.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 297,022 shares of the technology company's stock after selling 96,133 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in AT&T were worth $6,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of T. Mercer Global Advisors Inc. ADV increased its position in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company's stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company's stock worth $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company's stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T in the 2nd quarter worth $78,570,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.2 %

Shares of AT&T stock traded up $0.27 during trading on Friday, hitting $23.63. The company's stock had a trading volume of 33,693,907 shares, compared to its average volume of 34,125,296. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. 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 company has a fifty day simple moving average of $22.50 and a two-hundred day simple moving average of $20.58. The company has a market capitalization of $169.55 billion, a PE ratio of 19.21, a P/E/G ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. During the same period in the previous year, the firm posted $0.64 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.70%. AT&T's dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

Several research firms have recently commented on T. Barclays lifted their price objective on AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Redburn Atlantic raised AT&T to a "strong sell" rating in a research note on Monday, September 16th. Evercore ISI lifted 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 note on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

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.