Bridge Creek Capital Management LLC Sells 1,075 Shares of AT&T Inc. (NYSE:T)

Bridge Creek Capital Management LLC decreased its position in AT&T Inc. (NYSE:T) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,043 shares of the technology company’s stock after selling 1,075 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in AT&T were worth $3,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Waterloo Capital L.P. purchased a new stake in shares of AT&T during the 4th quarter valued at $174,000. Seven Eight Capital LP bought a new stake in AT&T in the fourth quarter worth about $719,000. Sei Investments Co. boosted its stake in AT&T by 2.4% in the fourth quarter. Sei Investments Co. now owns 2,028,505 shares of the technology company’s stock valued at $34,038,000 after acquiring an additional 47,595 shares during the last quarter. State of Tennessee Treasury Department grew its position in shares of AT&T by 13.1% during the 4th quarter. State of Tennessee Treasury Department now owns 2,996,181 shares of the technology company’s stock valued at $50,276,000 after acquiring an additional 346,346 shares during the period. Finally, Wasatch Advisors LP increased its stake in shares of AT&T by 1.9% during the 4th quarter. Wasatch Advisors LP now owns 220,000 shares of the technology company’s stock worth $3,692,000 after purchasing an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on T. Oppenheimer increased their price objective on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.38.

AT&T Price Performance

AT&T stock traded down $0.13 during midday trading on Tuesday, hitting $21.78. 896,435 shares of the company’s stock were exchanged, compared to its average volume of 35,729,922. The company has a market cap of $156.17 billion, a P/E ratio of 11.71, a PEG ratio of 3.78 and a beta of 0.60. 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 stock has a 50-day moving average price of $20.47 and a two-hundred day moving average price of $18.68. AT&T Inc. has a 52-week low of $14.23 and a 52-week high of $22.34.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.