Charles Schwab Investment Management Inc. Has $1.16 Billion Position in AT&T Inc. (NYSE:T)

Charles Schwab Investment Management Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 52,642,692 shares of the technology company’s stock after selling 35,227 shares during the period. Charles Schwab Investment Management Inc.’s holdings in AT&T were worth $1,158,139,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC lifted its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of AT&T during the second quarter worth $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.1 %

T stock opened at $22.85 on Thursday. The stock has a fifty day moving average of $21.96 and a 200-day moving average of $19.86. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.20. The company has a market capitalization of $163.96 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 3.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping 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 firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.86%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on T. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Evercore ISI raised 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T 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.