SFE Investment Counsel Sells 4,180 Shares of AT&T Inc. (NYSE:T)

SFE Investment Counsel trimmed its stake in AT&T Inc. (NYSE:T) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,674 shares of the technology company’s stock after selling 4,180 shares during the period. SFE Investment Counsel’s holdings in AT&T were worth $1,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. grew its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its position 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 valued at $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the 2nd quarter worth $30,000. Marquette Asset Management LLC bought a new position in shares of AT&T during the 3rd quarter worth $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 1.4 %

Shares of NYSE:T opened at $22.13 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $14.91 and a 12-month high of $22.58. The business has a 50 day moving average of $21.26 and a two-hundred day moving average of $19.19. The company has a market capitalization of $158.64 billion, a PE ratio of 17.99, a PEG ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. As a group, analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

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 given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.02%. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several brokerages recently issued reports on T. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Finally, TD Cowen increased their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.