Catalyst Capital Advisors LLC Has $157,000 Position in AT&T Inc. $T

Key Points

• Catalyst Capital Advisors LLC significantly reduced its position in AT&T by 93.3%, holding only 5,440 shares valued at $157,000 as of its latest filing.
• AT&T reported $0.54 EPS for the quarter, matching analyst expectations, but had a slight revenue miss with $30.71 billion against a consensus of $30.85 billion.
• The company announced a quarterly dividend of $0.2775, resulting in an annualized yield of 4.4%, with the ex-dividend date set for October 10th.

Catalyst Capital Advisors LLC reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 93.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,440 shares of the technology company's stock after selling 75,848 shares during the period. Catalyst Capital Advisors LLC's holdings in AT&T were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Parcion Private Wealth LLC lifted its holdings in shares of AT&T by 2.5% in the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company's stock valued at $431,000 after purchasing an additional 364 shares in the last quarter. David J Yvars Group lifted its holdings in shares of AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock valued at $402,000 after purchasing an additional 372 shares in the last quarter. AllSquare Wealth Management LLC lifted its holdings in shares of AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after purchasing an additional 378 shares in the last quarter. Barnes Wealth Management Group Inc lifted its holdings in shares of AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after purchasing an additional 380 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in shares of AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company's stock valued at $1,470,000 after purchasing an additional 381 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $25.17 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.76. The business has a fifty day simple moving average of $27.97 and a two-hundred day simple moving average of $27.75. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a market capitalization of $179.95 billion, a P/E ratio of 8.17, a P/E/G ratio of 1.99 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same period last year, the business posted $0.60 earnings per share. The business's revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Analysts Set New Price Targets

A number of brokerages recently commented on T. The Goldman Sachs Group began coverage on AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target for the company. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company decreased their price target on AT&T from $31.00 to $29.00 and set an "overweight" rating for the company in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus target price of $30.67.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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