AT&T Inc. (NYSE:T) Stake Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in AT&T Inc. (NYSE:T) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 453,783 shares of the technology company’s stock after selling 21,331 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AT&T were worth $9,983,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Davidson Kempner Capital Management LP acquired a new stake in AT&T during the 2nd quarter worth about $23,888,000. Talbot Financial LLC purchased a new stake in shares of AT&T in the third quarter worth approximately $7,438,000. Mackenzie Financial Corp grew its position in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares in the last quarter. DRW Securities LLC increased its stake in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares during the period. Finally, Van ECK Associates Corp increased its stake in AT&T by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after buying an additional 26,706 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. Oppenheimer boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays lifted their price objective on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup lifted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

Shares of T opened at $23.03 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a one year low of $15.94 and a one year high of $23.20. The company’s fifty day moving average price is $21.99 and its 200 day moving average price is $19.88. The company has a market capitalization of $165.21 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.82%. AT&T’s payout ratio is 90.24%.

AT&T Profile

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.