AT&T Inc. (NYSE:T) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. cut its holdings in AT&T Inc. (NYSE:T) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,438 shares of the technology company’s stock after selling 468 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in AT&T were worth $1,022,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of T. Strategic Financial Concepts LLC grew its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC boosted its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T during the 2nd quarter worth approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T opened at $21.83 on Friday. The business’s 50 day moving average is $21.20 and its two-hundred day moving average is $19.13. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.58. The firm has a market cap of $156.52 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

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 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 net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. Analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed 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 currently 59.68%.

Analyst Ratings Changes

Several brokerages have issued reports on T. Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Finally, TD Cowen lifted their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.