Peak Financial Advisors LLC Has $570,000 Stake in AT&T Inc. (NYSE:T)

Peak Financial Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 2.4% during the third quarter, Holdings Channel.com reports. The firm owned 25,925 shares of the technology company’s stock after selling 640 shares during the quarter. Peak Financial Advisors LLC’s holdings in AT&T were worth $570,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its holdings in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after buying an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its position in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management lifted its stake in AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

AT&T stock opened at $21.38 on Friday. The firm’s 50 day simple moving average is $20.71 and its 200 day simple moving average is $18.82. 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 Inc. has a 1-year low of $14.23 and a 1-year high of $22.34. The firm has a market capitalization of $153.26 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly 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 firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Moffett Nathanson increased their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Tigress Financial lifted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

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.