Beaird Harris Wealth Management LLC Has $328,000 Stock Position in AT&T Inc. (NYSE:T)

Beaird Harris Wealth Management LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 58.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,903 shares of the technology company’s stock after selling 21,275 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in AT&T were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at approximately $25,000. Riggs Asset Managment Co. Inc. boosted its holdings in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC raised its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $23.36 on Friday. The firm has a market cap of $167.61 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock’s fifty day moving average price is $22.47 and its two-hundred day moving average price is $20.51. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the business earned $0.64 earnings per share. AT&T’s revenue was down .5% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.75%. AT&T’s dividend payout ratio is 90.24%.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

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.