AT&T Inc. (NYSE:T) Shares Sold by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 8.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,907 shares of the technology company’s stock after selling 4,136 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in AT&T were worth $1,010,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its holdings in shares of 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 buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC raised its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T during the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $21.85 on Friday. The stock’s 50 day moving average price is $20.95 and its 200 day moving average price is $18.96. The firm has a market cap of $156.67 billion, a P/E ratio of 11.75, a PEG ratio of 3.63 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.34.

AT&T (NYSE:T) last issued 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 business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share 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. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Oppenheimer lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Evercore ISI increased their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. TD Cowen lifted their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Barclays increased their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.69.

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.