AT&T Inc. (NYSE:T) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its position in AT&T Inc. (NYSE:T) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,498 shares of the technology company’s stock after selling 29,184 shares during the quarter. MAI Capital Management’s holdings in AT&T were worth $6,325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Bank of New York Mellon Corp lifted its stake in 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. Legal & General Group Plc lifted its position in shares of AT&T by 2.7% during 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 buying an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares in the last quarter. LSV Asset Management grew its position in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after buying an additional 315,580 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in AT&T by 2.5% in the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after acquiring an additional 675,082 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $22.99 on Tuesday. The firm’s fifty day simple moving average is $21.92 and its 200-day simple moving average is $19.79. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $164.96 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.85 and a fifty-two week high of $23.20.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.83%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Ratings Changes

Several equities analysts have issued reports on T shares. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Oppenheimer raised 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. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Citigroup raised their price objective 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, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.