AT&T Inc. (NYSE:T) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its stake in shares of AT&T Inc. (NYSE:T) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 451,618 shares of the technology company’s stock after selling 7,199 shares during the period. Hartford Investment Management Co.’s holdings in AT&T were worth $9,936,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Davidson Kempner Capital Management LP acquired a new stake in shares of AT&T during the 2nd quarter worth approximately $23,888,000. Talbot Financial LLC purchased a new position in AT&T in the third quarter worth approximately $7,438,000. Mackenzie Financial Corp increased its stake in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares during the last quarter. DRW Securities LLC lifted its stake in shares of AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on T. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada boosted their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Up 0.7 %

AT&T stock traded up $0.16 during midday trading on Wednesday, reaching $21.66. The company’s stock had a trading volume of 6,542,756 shares, compared to its average volume of 35,427,293. The business has a 50-day simple moving average of $21.03 and a 200-day simple moving average of $19.04. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $155.31 billion, a P/E ratio of 12.36, a P/E/G ratio of 3.73 and a beta of 0.60. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, research analysts expect 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 will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is currently 63.79%.

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.