MBE Wealth Management LLC Sells 977 Shares of AT&T Inc. (NYSE:T)

MBE Wealth Management LLC decreased its position in AT&T Inc. (NYSE:T) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,519 shares of the technology company’s stock after selling 977 shares during the period. MBE Wealth Management LLC’s holdings in AT&T were worth $231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new position in AT&T during the second quarter worth about $23,888,000. Talbot Financial LLC bought a new position in AT&T during the third quarter worth about $7,438,000. Mackenzie Financial Corp boosted its holdings in 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 buying an additional 288,093 shares during the last quarter. DRW Securities LLC lifted its holdings in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after purchasing an additional 43,062 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.3 %

Shares of AT&T stock traded down $0.07 on Monday, reaching $21.78. 9,588,813 shares of the company were exchanged, compared to its average volume of 35,411,316. AT&T Inc. has a one year low of $14.74 and a one year high of $22.34. The company has a market capitalization of $156.17 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 3.63 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average of $20.95 and a 200 day moving average of $18.98.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on T. Tigress Financial lifted 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. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

About AT&T

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.