CRA Financial Services LLC Trims Holdings in AT&T Inc. (NYSE:T)

CRA Financial Services LLC cut its stake in AT&T Inc. (NYSE:T) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,858 shares of the technology company’s stock after selling 732 shares during the quarter. CRA Financial Services LLC’s holdings in AT&T were worth $261,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Quarry LP raised its position in AT&T by 137.1% in the fourth quarter. Quarry LP now owns 6,649 shares of the technology company’s stock valued at $112,000 after purchasing an additional 3,845 shares during the period. Wellington Wealth Strategies LLC. acquired a new position in AT&T in the fourth quarter valued at about $172,000. Able Wealth Management LLC purchased a new position in AT&T during the fourth quarter worth about $58,000. Novak & Powell Financial Services Inc. acquired a new stake in shares of AT&T during the fourth quarter valued at about $191,000. Finally, Sierra Summit Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $338,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $21.37 on Friday. The company’s 50 day simple moving average is $20.71 and its 200-day simple moving average is $18.83. The firm has a market cap of $153.23 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. AT&T Inc. has a 12-month low of $14.23 and a 12-month high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on T shares. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Evercore ISI increased their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Oppenheimer increased their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.38.

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.