Rock Point Advisors LLC Reduces Stock Holdings in AT&T Inc. (NYSE:T)

Rock Point Advisors LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 214,617 shares of the technology company’s stock after selling 11,640 shares during the quarter. Rock Point Advisors LLC’s holdings in AT&T were worth $4,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Strategic Financial Concepts LLC grew its holdings in AT&T by 227.6% during the second 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 period. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. American Capital Advisory LLC increased 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 worth $30,000 after acquiring an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in AT&T during the 2nd quarter worth approximately $30,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of a number of analyst reports. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Oppenheimer lifted their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Trading Down 0.6 %

Shares of AT&T stock traded down $0.13 on Tuesday, reaching $22.97. The company had a trading volume of 2,645,840 shares, compared to its average volume of 35,331,281. The firm’s 50-day moving average price is $22.04 and its two-hundred day moving average price is $20.00. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.32. The firm has a market cap of $164.82 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 3.48 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last announced its earnings results 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 the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts predict 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. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

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.