AT&T Inc. (NYSE:T) Shares Sold by ERn Financial LLC

ERn Financial LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 21.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,519 shares of the technology company’s stock after selling 2,676 shares during the quarter. ERn Financial LLC’s holdings in AT&T were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its position in shares of AT&T by 107.5% in the second 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 purchased a new stake in shares of AT&T during the 2nd quarter worth about $30,000. Marquette Asset Management LLC acquired a new stake in shares of AT&T during the 3rd quarter valued at about $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Performance

NYSE T opened at $21.70 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock’s fifty day moving average is $20.86 and its two-hundred day moving average is $18.91. The firm has a market capitalization of $155.59 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. AT&T Inc. has a fifty-two week low of $14.28 and a fifty-two week high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The company’s revenue was down .3% 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 year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is presently 59.68%.

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.