AT&T Inc. (NYSE:T) Shares Sold by Covestor Ltd

Covestor Ltd lessened its holdings in shares of AT&T Inc. (NYSE:T) by 64.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,692 shares of the technology company’s stock after selling 4,883 shares during the quarter. Covestor Ltd’s holdings in AT&T were worth $59,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in T. Strategic Financial Concepts LLC boosted its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its stake in AT&T by 107.5% in 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 during the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T during the 2nd quarter worth approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.2 %

Shares of T stock opened at $22.25 on Friday. The stock has a market cap of $159.61 billion, a P/E ratio of 18.09, a P/E/G ratio of 3.33 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $22.73. The business has a fifty day simple moving average of $21.82 and a 200-day simple moving average of $19.65.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. On average, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

T has been the topic of several research analyst reports. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Oppenheimer boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.