Donaldson Capital Management LLC Lowers Stake in AT&T Inc. (NYSE:T)

Donaldson Capital Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 18.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,413 shares of the technology company’s stock after selling 3,347 shares during the quarter. Donaldson Capital Management LLC’s holdings in AT&T were worth $317,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of AT&T by 0.4% in 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 acquiring an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management raised its holdings in AT&T by 1.1% in the second 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 in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 0.9 %

AT&T stock opened at $21.92 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1-year low of $15.46 and a 1-year high of $22.73. The company has a market cap of $157.28 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 3.32 and a beta of 0.59. The stock’s 50 day moving average price is $21.51 and its 200 day moving average price is $19.40.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

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 $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.06%. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

A number of brokerages have commented on T. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Moffett Nathanson boosted their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer boosted their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.