AT&T Inc. (NYSE:T) Shares Sold by Carmichael Hill & Associates Inc.

Carmichael Hill & Associates Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,830 shares of the technology company’s stock after selling 1,187 shares during the period. Carmichael Hill & Associates Inc.’s holdings in AT&T were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of T. BNP Paribas purchased a new stake in AT&T in the 1st quarter valued at about $743,000. Lincoln National Corp raised its stake in shares of AT&T by 5.9% in the 1st quarter. Lincoln National Corp now owns 184,211 shares of the technology company’s stock valued at $3,242,000 after acquiring an additional 10,266 shares during the period. GSB Wealth Management LLC acquired a new position in shares of AT&T in the 1st quarter worth approximately $227,000. Haverford Trust Co boosted its position in shares of AT&T by 2.8% during the 1st quarter. Haverford Trust Co now owns 56,981 shares of the technology company’s stock worth $1,003,000 after purchasing an additional 1,546 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in AT&T by 10.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 744,205 shares of the technology company’s stock valued at $13,098,000 after purchasing an additional 69,567 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on T shares. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Down 1.9 %

AT&T stock opened at $22.12 on Friday. The stock has a market cap of $158.72 billion, a PE ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock’s fifty day moving average is $21.47 and its two-hundred day moving average is $19.33. AT&T Inc. has a 1-year low of $15.46 and a 1-year high of $22.73.

AT&T (NYSE:T) last issued 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. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. On average, sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.02%. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Company 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.