Strategic Family Wealth Counselors L.L.C. Reduces Holdings in AT&T Inc. (NYSE:T)

Strategic Family Wealth Counselors L.L.C. decreased its position in shares of AT&T Inc. (NYSE:T) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,113 shares of the technology company’s stock after selling 1,081 shares during the quarter. Strategic Family Wealth Counselors L.L.C.’s holdings in AT&T were worth $685,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Fulton Breakefield Broenniman LLC lifted its position in AT&T by 9.6% in the third quarter. Fulton Breakefield Broenniman LLC now owns 199,160 shares of the technology company’s stock valued at $7,536,000 after purchasing an additional 17,411 shares during the period. Envestnet Asset Management Inc. lifted its position in AT&T by 4.4% in the third quarter. Envestnet Asset Management Inc. now owns 3,685,047 shares of the technology company’s stock valued at $139,442,000 after purchasing an additional 153,745 shares during the period. Beacon Harbor Wealth Advisors Inc. lifted its position in AT&T by 2.5% in the third quarter. Beacon Harbor Wealth Advisors Inc. now owns 70,225 shares of the technology company’s stock valued at $2,662,000 after purchasing an additional 1,699 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in AT&T by 7.1% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 60,694 shares of the technology company’s stock valued at $2,297,000 after purchasing an additional 4,000 shares during the period. Finally, Strategic Advisors LLC lifted its position in AT&T by 2.4% in the third quarter. Strategic Advisors LLC now owns 220,391 shares of the technology company’s stock valued at $8,340,000 after purchasing an additional 5,158 shares during the period. 53.04% of the stock is currently owned by institutional investors.

Shares of T stock traded up $0.66 during midday trading on Friday, reaching $38.47. 35,211,778 shares of the company traded hands, compared to its average volume of 26,948,048. The firm’s 50 day simple moving average is $37.12 and its two-hundred day simple moving average is $33.80. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $38.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $276.28 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same period last year, the firm earned $0.91 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.

The business 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 $0.51 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.30%. AT&T’s payout ratio is 57.95%.

In other news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

A number of equities research analysts recently commented on the stock. Raymond James restated an “outperform” rating and issued a $40.00 price objective (up previously from $35.00) on shares of AT&T in a research report on Monday, October 7th. JPMorgan Chase & Co. set a $39.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Sanford C. Bernstein assumed coverage on shares of AT&T in a research report on Tuesday. They issued a “market perform” rating and a $36.00 price objective for the company. Oppenheimer set a $41.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Cowen set a $40.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.28.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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