AT&T Inc. (NYSE:T) Stock Position Lowered by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lowered its stake in AT&T Inc. (NYSE:T) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 619,079 shares of the technology company’s stock after selling 9,919 shares during the period. AT&T makes up approximately 2.4% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 6th largest holding. Te Ahumairangi Investment Management Ltd’s holdings in AT&T were worth $13,543,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of T. Strategic Financial Concepts LLC lifted its position 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 worth $25,000 after purchasing an additional 91,578 shares during the period. Legacy Investment Solutions LLC bought a new position in AT&T in the third quarter worth about $25,000. Riggs Asset Managment Co. Inc. lifted its holdings 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 worth $27,000 after buying an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its position in 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 in the last quarter. Finally, American Capital Advisory LLC boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.1 %

Shares of NYSE:T opened at $23.48 on Thursday. The stock has a 50 day moving average of $22.44 and a 200 day moving average of $20.49. The company has a market cap of $168.48 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.73%. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday. They set an “outperform” rating and a $28.00 target price for the company. Moffett Nathanson upped their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company 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, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

AT&T Company 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.