AT&T Inc. (NYSE:T) Shares Sold by World Equity Group Inc.

World Equity Group Inc. reduced its stake in AT&T Inc. (NYSE:T) by 11.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,357 shares of the technology company’s stock after selling 1,384 shares during the period. World Equity Group Inc.’s holdings in AT&T were worth $228,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. QRG Capital Management Inc. boosted its holdings in shares of AT&T by 50.0% in the third quarter. QRG Capital Management Inc. now owns 1,620,378 shares of the technology company’s stock valued at $35,648,000 after acquiring an additional 540,038 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of AT&T by 2.7% during the third quarter. Asset Management One Co. Ltd. now owns 3,426,794 shares of the technology company’s stock worth $75,389,000 after buying an additional 89,982 shares during the last quarter. National Pension Service raised its stake in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after acquiring an additional 2,152,016 shares during the last quarter. Northeast Investment Management lifted its position in AT&T by 1.2% during the 3rd quarter. Northeast Investment Management now owns 50,747 shares of the technology company’s stock worth $1,116,000 after acquiring an additional 625 shares during the period. Finally, Kanawha Capital Management LLC grew its stake in shares of AT&T by 1.2% in the 3rd quarter. Kanawha Capital Management LLC now owns 101,891 shares of the technology company’s stock valued at $2,242,000 after purchasing an additional 1,197 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several recent research reports. Tigress Financial increased 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. Oppenheimer boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Citigroup upped their target price 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. Finally, Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Down 0.9 %

Shares of NYSE T opened at $21.92 on Tuesday. 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 capitalization of $157.28 billion, a PE ratio of 17.82, a P/E/G ratio of 3.32 and a beta of 0.59. The firm has a fifty day moving average of $21.51 and a 200-day moving average of $19.40. AT&T Inc. has a 52-week low of $15.46 and a 52-week high of $22.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. On average, analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced 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 was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.06%. AT&T’s payout ratio is 90.24%.

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.