Geneos Wealth Management Inc. Reduces Stake in AT&T Inc. $T

Geneos Wealth Management Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 33.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,794 shares of the technology company’s stock after selling 42,983 shares during the quarter. Geneos Wealth Management Inc.’s holdings in AT&T were worth $2,395,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Denali Advisors LLC increased its holdings in AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after acquiring an additional 22,394 shares in the last quarter. Tredje AP fonden lifted its holdings in shares of AT&T by 1.8% in the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp grew its position in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. purchased a new position in shares of AT&T during the 2nd quarter worth approximately $489,000. Finally, Sentry Investment Management LLC increased its stake in shares of AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after purchasing an additional 13,370 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of analyst reports. Williams Trading set a $33.00 target price on AT&T in a report on Thursday, October 23rd. Wells Fargo & Company decreased their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Tuesday, November 11th. Arete Research set a $20.00 price target on AT&T in a report on Tuesday. Finally, Loop Capital set a $29.00 target price on shares of AT&T in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.42.

AT&T Stock Down 1.5%

T stock opened at $23.97 on Thursday. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $169.90 billion, a P/E ratio of 7.78, a PEG ratio of 1.30 and a beta of 0.39. The firm has a 50 day simple moving average of $24.93 and a 200-day simple moving average of $26.83.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting 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 period last year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio is presently 36.04%.

About AT&T

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.