Carret Asset Management LLC Has $1.79 Million Holdings in AT&T Inc. (NYSE:T)

Carret Asset Management LLC decreased its stake in AT&T Inc. (NYSE:T) by 14.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 81,272 shares of the technology company’s stock after selling 13,735 shares during the period. Carret Asset Management LLC’s holdings in AT&T were worth $1,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of T. Independence Bank of Kentucky lifted its position in shares of AT&T by 48.4% in the 1st quarter. Independence Bank of Kentucky now owns 6,243 shares of the technology company’s stock worth $110,000 after acquiring an additional 2,037 shares during the period. Breakwater Capital Group lifted its position in AT&T by 8.7% in the first quarter. Breakwater Capital Group now owns 33,432 shares of the technology company’s stock worth $588,000 after purchasing an additional 2,662 shares during the period. Roberts Wealth Advisors LLC boosted its stake in AT&T by 6.1% during the first quarter. Roberts Wealth Advisors LLC now owns 82,700 shares of the technology company’s stock worth $1,343,000 after buying an additional 4,753 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in AT&T by 7.4% in the 1st quarter. Aviance Capital Partners LLC now owns 23,060 shares of the technology company’s stock valued at $406,000 after buying an additional 1,595 shares during the period. Finally, Diversified Trust Co raised its stake in shares of AT&T by 12.5% in the 1st quarter. Diversified Trust Co now owns 147,249 shares of the technology company’s stock valued at $2,592,000 after buying an additional 16,355 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $21.83 on Friday. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $21.20 and its 200-day moving average is $19.13. The firm has a market capitalization of $156.52 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is 59.68%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group began coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.