Cedrus LLC Decreases Position in AT&T Inc. (NYSE:T)

Cedrus LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 33.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,991 shares of the technology company’s stock after selling 9,096 shares during the period. Cedrus LLC’s holdings in AT&T were worth $396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hayek Kallen Investment Management raised its stake in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares during the period. Octavia Wealth Advisors LLC raised its stake in AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC raised its stake in AT&T by 2.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares during the period. WealthCare Investment Partners LLC raised its stake in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares during the period. Finally, Integral Investment Advisors Inc. raised its stake in AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after purchasing an additional 538 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $21.85 on Friday. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $156.67 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 3.63 and a beta of 0.60. The company has a fifty day simple moving average of $20.95 and a 200 day simple moving average of $18.97.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on T shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. TD Cowen increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company increased their price objective on shares of AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

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.