Dearborn Partners LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Dearborn Partners LLC lowered its position in AT&T Inc. (NYSE:T) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,388 shares of the technology company’s stock after selling 571 shares during the quarter. Dearborn Partners LLC’s holdings in AT&T were worth $823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in T. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T in the 2nd quarter valued at $23,888,000. Talbot Financial LLC purchased a new position in AT&T in the third quarter valued at about $7,438,000. Mackenzie Financial Corp raised its position in AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC lifted its stake in shares of AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of AT&T by 7.2% in the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock worth $8,928,000 after buying an additional 26,706 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock opened at $22.69 on Friday. 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 12 month low of $15.75 and a 12 month high of $22.75. The company has a fifty day moving average price of $21.85 and a two-hundred day moving average price of $19.67. The company has a market cap of $162.81 billion, a PE ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data 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 business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared 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. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analyst Weigh In

Several research firms recently commented on T. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Citigroup boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Oppenheimer raised their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T 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.