OVERSEA CHINESE BANKING Corp Ltd Sells 11,153 Shares of AT&T Inc. (NYSE:T)

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 49.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,388 shares of the technology company’s stock after selling 11,153 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in AT&T were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC lifted its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Reston Wealth Management LLC bought a new stake in AT&T during the 3rd quarter valued at approximately $35,000. Altshuler Shaham Ltd purchased a new position in shares of AT&T during the 2nd quarter worth approximately $30,000. Finally, Marquette Asset Management LLC bought a new position in shares of AT&T in the 3rd quarter worth approximately $36,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T stock opened at $22.25 on Friday. The company has a market cap of $159.61 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1 year low of $15.64 and a 1 year high of $22.73. The stock’s fifty day moving average price is $21.82 and its 200-day moving average price is $19.65.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen lifted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $23.40.

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.