AT&T Inc. (NYSE:T) Stock Position Decreased by Wasatch Advisors LP

Wasatch Advisors LP trimmed its position in shares of AT&T Inc. (NYSE:T) by 20.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,000 shares of the technology company’s stock after selling 45,000 shares during the quarter. Wasatch Advisors LP’s holdings in AT&T were worth $3,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Chesapeake Wealth Management grew its holdings in shares of AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares during the last quarter. Socha Financial Group LLC boosted its position in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares in the last quarter. Essex Savings Bank grew its stake in shares of AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares during the last quarter. Hayek Kallen Investment Management lifted its stake in shares of AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the last quarter. Finally, Aviance Capital Partners LLC boosted its holdings in shares of AT&T by 2.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock valued at $537,000 after acquiring an additional 501 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on T shares. Tigress Financial increased their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight 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, AT&T has a consensus rating of “Moderate Buy” and an average target price of $23.53.

AT&T Stock Performance

NYSE:T opened at $23.16 on Friday. 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 twelve month low of $15.94 and a twelve month high of $23.38. The company has a fifty day moving average of $22.17 and a 200-day moving average of $20.15. The firm has a market capitalization of $166.18 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.48 and a beta of 0.59.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 10th. 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.