AT&T Inc. (NYSE:T) Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 39.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,750 shares of the technology company’s stock after selling 19,750 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in AT&T were worth $654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Mercer Global Advisors Inc. ADV raised its stake in shares of AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of AT&T by 7.4% during the second 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 purchasing an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in shares of AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of AT&T during the second quarter worth approximately $78,570,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on T shares. Barclays increased their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Citigroup increased their price objective on 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 given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $22.69.

AT&T Trading Up 2.1 %

NYSE:T traded up $0.46 on Wednesday, reaching $21.96. The stock had a trading volume of 12,949,579 shares, compared to its average volume of 35,458,547. The company has a market cap of $157.46 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 3.73 and a beta of 0.60. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34. 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 firm’s fifty day moving average is $21.03 and its two-hundred day moving average is $19.04.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. Equities analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

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.