Claro Advisors LLC Trims Stock Position in AT&T Inc. $T

Claro Advisors LLC lessened its holdings in AT&T Inc. (NYSE:T) by 32.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,013 shares of the technology company’s stock after selling 14,304 shares during the period. Claro Advisors LLC’s holdings in AT&T were worth $869,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares during the last quarter. Stratos Investment Management LLC boosted its holdings in AT&T by 74.1% in the 1st quarter. Stratos Investment Management LLC now owns 16,275 shares of the technology company’s stock worth $460,000 after buying an additional 6,925 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in AT&T by 0.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,402,421 shares of the technology company’s stock worth $68,124,000 after buying an additional 12,142 shares during the last quarter. Trek Financial LLC boosted its holdings in AT&T by 202.1% in the 1st quarter. Trek Financial LLC now owns 59,106 shares of the technology company’s stock worth $1,672,000 after buying an additional 39,542 shares during the last quarter. Finally, Silverlake Wealth Management LLC boosted its holdings in AT&T by 2.5% in the 1st quarter. Silverlake Wealth Management LLC now owns 62,716 shares of the technology company’s stock worth $1,774,000 after buying an additional 1,502 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several research analyst reports. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. TD Cowen boosted their target price on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Trading Up 0.5%

Shares of AT&T stock opened at $24.55 on Thursday. The stock has a market cap of $175.54 billion, a P/E ratio of 7.97, a P/E/G ratio of 2.16 and a beta of 0.42. The stock’s 50 day simple moving average is $27.32 and its 200-day simple moving average is $27.65. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio is currently 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.