Probity Advisors Inc. Sells 668 Shares of AT&T Inc. (NYSE:T)

Probity Advisors Inc. lowered its position in AT&T Inc. (NYSE:T) by 1.6% in the 3rd quarter, Holdings Channel reports. The fund owned 41,562 shares of the technology company’s stock after selling 668 shares during the quarter. Probity Advisors Inc.’s holdings in AT&T were worth $914,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.9 %

NYSE:T opened at $21.71 on Thursday. The company has a market cap of $155.66 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $20.86 and a two-hundred day simple moving average of $18.91. AT&T Inc. has a 12 month low of $14.28 and a 12 month high of $22.34.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

A number of brokerages have issued reports on T. Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer raised their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.