Neville Rodie & Shaw Inc. Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Neville Rodie & Shaw Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 13.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,513 shares of the technology company’s stock after selling 4,560 shares during the period. Neville Rodie & Shaw Inc.’s holdings in AT&T were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Octavia Wealth Advisors LLC raised its holdings in shares of AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after acquiring an additional 519 shares during the period. Carolinas Wealth Consulting LLC raised its stake in AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares during the period. WealthCare Investment Partners LLC lifted its holdings in shares of AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares in the last quarter. Integral Investment Advisors Inc. boosted its position in shares of AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares during the period. Finally, Financial Counselors Inc. grew its holdings in shares of AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after buying an additional 539 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.3 %

Shares of T opened at $22.20 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a 50-day simple moving average of $20.35 and a 200-day simple moving average of $18.60. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The firm has a market capitalization of $159.14 billion, a P/E ratio of 11.93, a P/E/G ratio of 3.75 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results 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 return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the prior year, the company posted $0.63 earnings per share. AT&T’s revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Barclays boosted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $22.38.

AT&T Company 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.