Rock Point Advisors LLC Sells 11,640 Shares of AT&T Inc. (NYSE:T)

Rock Point Advisors LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,617 shares of the technology company’s stock after selling 11,640 shares during the period. Rock Point Advisors LLC’s holdings in AT&T were worth $4,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC grew its holdings in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter worth $35,000. Finally, Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on T. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Citigroup increased their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. Finally, Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Down 0.6 %

Shares of AT&T stock traded down $0.13 during midday trading on Tuesday, hitting $22.97. The company had a trading volume of 2,645,840 shares, compared to its average volume of 35,331,281. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.32. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of $164.82 billion, a P/E ratio of 18.78, a P/E/G ratio of 3.48 and a beta of 0.59. The company has a 50 day moving average of $22.04 and a 200 day moving average of $20.00.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.83%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.