AT&T Inc. (NYSE:T) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,498 shares of the technology company’s stock after selling 29,184 shares during the period. MAI Capital Management’s holdings in AT&T were worth $6,325,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of T. Socha Financial Group LLC lifted its stake in shares of 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 during the period. Essex Savings Bank raised its holdings in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares in the last quarter. Hayek Kallen Investment Management lifted its position 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 worth $1,326,000 after acquiring an additional 500 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of AT&T by 0.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after purchasing an additional 513 shares in the last quarter. Finally, Spinnaker Trust grew its holdings in shares of AT&T by 0.4% during the 3rd quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock worth $2,741,000 after purchasing an additional 515 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Oppenheimer upped their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Barclays increased their target price on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

AT&T stock opened at $22.99 on Tuesday. AT&T Inc. has a 12-month low of $15.85 and a 12-month high of $23.20. The stock has a 50-day simple moving average of $21.92 and a 200 day simple moving average of $19.79. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $164.96 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 3.40 and a beta of 0.59.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 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.