Sunbelt Securities Inc. Has $3.42 Million Holdings in AT&T Inc. (NYSE:T)

Sunbelt Securities Inc. cut its position in AT&T Inc. (NYSE:T - Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,326 shares of the technology company's stock after selling 22,341 shares during the period. Sunbelt Securities Inc.'s holdings in AT&T were worth $3,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its position in shares of AT&T by 1.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 374,423 shares of the technology company's stock valued at $8,240,000 after purchasing an additional 3,909 shares during the period. Geode Capital Management LLC raised its holdings in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company's stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the period. MidWestOne Financial Group Inc. lifted its stake in AT&T by 1.6% in the third quarter. MidWestOne Financial Group Inc. now owns 229,386 shares of the technology company's stock valued at $5,046,000 after buying an additional 3,703 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in shares of AT&T by 2.4% during the third quarter. Prestige Wealth Management Group LLC now owns 46,641 shares of the technology company's stock worth $1,026,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Brophy Wealth Management LLC acquired a new stake in shares of AT&T during the third quarter worth $399,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

AT&T stock traded down $0.03 during trading hours on Wednesday, hitting $23.48. The company had a trading volume of 38,307,155 shares, compared to its average volume of 35,510,707. The firm has a 50-day moving average of $22.41 and a 200 day moving average of $20.47. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market cap of $168.48 billion, a PE ratio of 19.08, a PEG ratio of 3.63 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.73%. AT&T's dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $25.00.

AT&T 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.