AT&T Inc. (NYSE:T) Shares Sold by Credit Capital Investments LLC

Credit Capital Investments LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 6.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 352,100 shares of the technology company’s stock after selling 25,686 shares during the quarter. AT&T makes up approximately 9.6% of Credit Capital Investments LLC’s portfolio, making the stock its 2nd biggest position. Credit Capital Investments LLC’s holdings in AT&T were worth $7,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted 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 purchasing an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc lifted its stake in 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 worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in AT&T by 2.0% during the second 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 during the last quarter. Finally, LSV Asset Management lifted its stake in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

T stock traded up $0.11 on Wednesday, reaching $22.26. 3,362,794 shares of the company’s stock were exchanged, compared to its average volume of 35,442,156. The stock has a fifty day moving average of $21.79 and a 200-day moving average of $19.63. AT&T Inc. has a twelve month low of $15.52 and a twelve month high of $22.73. The firm has a market cap of $159.72 billion, a PE ratio of 18.01, a P/E/G ratio of 3.35 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Barclays boosted their price objective on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup boosted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $23.40.

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.