Towercrest Capital Management Trims Stake in AT&T Inc. (NYSE:T)

Towercrest Capital Management lessened its position in AT&T Inc. (NYSE:T) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,280 shares of the technology company’s stock after selling 1,445 shares during the quarter. Towercrest Capital Management’s holdings in AT&T were worth $644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Davidson Kempner Capital Management LP purchased a new stake in shares of AT&T in the 2nd quarter valued at $23,888,000. Swiss National Bank increased its holdings in AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Caprock Group LLC increased its holdings in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. Talbot Financial LLC purchased a new stake in AT&T during the 3rd quarter worth about $7,438,000. Finally, Mackenzie Financial Corp increased its holdings in AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

Shares of NYSE T opened at $23.18 on Friday. The business has a 50-day moving average price of $22.02 and a 200 day moving average price of $19.94. 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 $166.32 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.29.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during 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 firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS. Equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on T shares. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Moffett Nathanson upped their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.