Avestar Capital LLC Reduces Stake in AT&T Inc. (T)

Avestar Capital LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 42.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,489 shares of the technology company’s stock after selling 1,102 shares during the quarter. Avestar Capital LLC’s holdings in AT&T were worth $38,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. TCI Wealth Advisors Inc. boosted its position in shares of AT&T by 0.5% during the 4th quarter. TCI Wealth Advisors Inc. now owns 62,943 shares of the technology company’s stock valued at $1,796,000 after acquiring an additional 330 shares during the last quarter. Legacy Advisors LLC lifted its position in AT&T by 1.7% in the fourth quarter. Legacy Advisors LLC now owns 21,287 shares of the technology company’s stock valued at $608,000 after buying an additional 363 shares during the last quarter. Butensky & Cohen Financial Security Inc. lifted its position in AT&T by 0.7% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 61,929 shares of the technology company’s stock valued at $1,767,000 after buying an additional 429 shares during the last quarter. Advocacy Wealth Management Services LLC lifted its position in AT&T by 10.6% in the fourth quarter. Advocacy Wealth Management Services LLC now owns 5,200 shares of the technology company’s stock valued at $148,000 after buying an additional 500 shares during the last quarter. Finally, HT Partners LLC lifted its position in AT&T by 4.3% in the fourth quarter. HT Partners LLC now owns 12,024 shares of the technology company’s stock valued at $343,000 after buying an additional 500 shares during the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:T opened at $30.68 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.80 and a current ratio of 0.72. The stock has a market cap of $188.34 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $34.53.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.86 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.86. The company had revenue of $44.83 billion for the quarter, compared to analyst estimates of $45.20 billion. AT&T had a net margin of 10.59% and a return on equity of 13.16%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. Analysts anticipate that AT&T Inc. will post 3.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.51 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.04 dividend on an annualized basis and a yield of 6.65%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

In other AT&T news, CEO John T. Stankey sold 3,748 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.

T has been the topic of a number of recent analyst reports. Barclays set a $32.00 target price on shares of AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. Cowen reaffirmed a “buy” rating and issued a $35.00 target price on shares of AT&T in a research report on Thursday, January 31st. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Desjardins reaffirmed an “average” rating and issued a $56.50 target price on shares of AT&T in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. AT&T currently has a consensus rating of “Hold” and a consensus price target of $36.26.

ILLEGAL ACTIVITY WARNING: “Avestar Capital LLC Reduces Stake in AT&T Inc. (T)” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://sportsperspectives.com/2019/04/29/avestar-capital-llc-reduces-stake-in-att-inc-t.html.

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.

Featured Story: What is an overbought condition?

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.