Crewe Advisors LLC Reduces Stock Holdings in AT&T Inc. (NYSE:T)

Crewe Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 14.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,574 shares of the technology company’s stock after selling 1,297 shares during the quarter. Crewe Advisors LLC’s holdings in AT&T were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Gabelli Funds LLC raised its stake in AT&T by 11.7% in the 1st quarter. Gabelli Funds LLC now owns 332,900 shares of the technology company’s stock worth $5,859,000 after acquiring an additional 35,000 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of AT&T by 70.1% in the first quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock worth $42,000 after purchasing an additional 979 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of AT&T by 5.7% during the first quarter. Mount Yale Investment Advisors LLC now owns 31,387 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,687 shares during the period. Caxton Associates LP boosted its position in AT&T by 207.6% in the first quarter. Caxton Associates LP now owns 51,025 shares of the technology company’s stock valued at $898,000 after buying an additional 34,437 shares during the last quarter. Finally, Waverly Advisors LLC increased its holdings in AT&T by 30.2% in the 1st quarter. Waverly Advisors LLC now owns 279,283 shares of the technology company’s stock worth $4,915,000 after buying an additional 64,804 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $23.18 on Friday. The stock has a market capitalization of $166.32 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.45 and a beta of 0.59. The company’s fifty day moving average price is $22.02 and its 200 day moving average price is $19.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.29.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.79%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.