Signaturefd LLC Reduces Stake in AT&T Inc. (NYSE:T)

Signaturefd LLC trimmed its stake in AT&T Inc. (NYSE:T) by 3.2% during the third quarter, Holdings Channel reports. The fund owned 158,650 shares of the technology company’s stock after selling 5,215 shares during the period. Signaturefd LLC’s holdings in AT&T were worth $3,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Riggs Asset Managment Co. Inc. raised its position in shares of 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 purchasing an additional 1,116 shares during the period. American Capital Advisory LLC increased its holdings in AT&T by 107.5% during the 2nd 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 period. Altshuler Shaham Ltd bought a new stake in AT&T during the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC bought a new stake in AT&T during the 3rd quarter worth approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.6 %

T traded down $0.14 during trading on Tuesday, hitting $21.52. 20,723,133 shares of the stock traded hands, compared to its average volume of 35,436,242. The firm has a market capitalization of $154.30 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a 50-day moving average of $20.99 and a 200 day moving average of $19.01. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. 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 business earned $0.63 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on T. Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

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.