AM Investment Strategies LLC Decreases Position in AT&T Inc. (NYSE:T)

Financial News Live · Jan 27, 2023 05:06

AM Investment Strategies LLC reduced its stake in AT&T Inc. (NYSE:T – Get Rating) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,633 shares of the technology company's stock after selling 631 shares during the quarter. AM Investment Strategies LLC's holdings in AT&T were worth $332,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in T. Beacon Capital Management Inc. acquired a new position in AT&T in the second quarter worth $26,000. Industrial Alliance Investment Management Inc. acquired a new stake in AT&T during the 2nd quarter worth about $29,000. New Millennium Group LLC acquired a new position in shares of AT&T in the 2nd quarter valued at about $34,000. Bay Harbor Wealth Management LLC acquired a new position in shares of AT&T in the 3rd quarter valued at about $36,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of AT&T in the 3rd quarter valued at approximately $45,000. 51.86% of the stock is currently owned by hedge funds and other institutional investors.

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AT&T Stock Performance

NYSE T traded down $0.53 on Thursday, reaching $19.89. 11,984,149 shares of the stock were exchanged, compared to its average volume of 37,143,543. AT&T Inc. has a one year low of $14.46 and a one year high of $22.84. The firm has a market capitalization of $141.76 billion, a PE ratio of 7.47, a PEG ratio of 2.23 and a beta of 0.61. The company's 50-day simple moving average is $18.95 and its two-hundred day simple moving average is $18.10. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 0.88.

AT&T (NYSE:T – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $31.30 billion during the quarter, compared to analyst estimates of $31.50 billion. AT&T had a net margin of 14.44% and a return on equity of 13.24%. AT&T's quarterly revenue was down 23.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. Analysts expect that AT&T Inc. will post 2.64 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.58%. The ex-dividend date is Monday, January 9th. AT&T's dividend payout ratio is currently 41.11%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on AT&T from $20.00 to $18.00 and set a "sector perform" rating for the company in a research report on Friday, October 21st. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a report on Thursday, December 8th. StockNews.com upgraded AT&T from a "hold" rating to a "buy" rating in a report on Thursday, January 5th. Moffett Nathanson reaffirmed an "underperform" rating and set a $17.00 price target on shares of AT&T in a research report on Monday, December 19th. Finally, Cowen lifted their target price on AT&T from $24.00 to $25.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average price target of $22.56.

AT&T Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

AM Investment Strategies LLC Decreases Position in AT&T Inc. (NYSE:T)

AT&T Stock Performance

AT&T Dividend Announcement

Wall Street Analysts Forecast Growth

AT&T Profile

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