Integrated Wealth Concepts LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Integrated Wealth Concepts LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 264,750 shares of the technology company’s stock after selling 5,843 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in AT&T were worth $5,825,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Davidson Kempner Capital Management LP purchased a new stake in shares of AT&T during the second quarter valued at about $23,888,000. Swiss National Bank raised its position in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Caprock Group LLC raised its position in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Talbot Financial LLC purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $7,438,000. Finally, Mackenzie Financial Corp raised its position in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.07.

AT&T Price Performance

Shares of NYSE T opened at $23.55 on Thursday. The stock has a market capitalization of $168.94 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 3.41 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The firm’s 50 day simple moving average is $22.28 and its 200-day simple moving average is $20.28. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.71%. AT&T’s dividend payout ratio is currently 90.24%.

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.