Cassia Capital Partners LLC Sells 3,081 Shares of AT&T Inc. (NYSE:T)

Cassia Capital Partners LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 7.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,690 shares of the technology company’s stock after selling 3,081 shares during the period. AT&T makes up approximately 0.6% of Cassia Capital Partners LLC’s holdings, making the stock its 25th largest position. Cassia Capital Partners LLC’s holdings in AT&T were worth $851,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Legal & General Group Plc raised its holdings in AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management grew its position in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.5 %

T stock traded down $0.11 during mid-day trading on Monday, reaching $21.74. The company had a trading volume of 14,036,378 shares, compared to its average volume of 35,431,285. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market capitalization of $155.88 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The firm has a 50 day moving average of $20.95 and a 200 day moving average of $18.98. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $30.05 billion. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

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.