AT&T Inc. (NYSE:T) Stake Lessened by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 30.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,702 shares of the technology company’s stock after selling 52,305 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in AT&T were worth $1,958,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC bought a new position in AT&T in the 4th quarter worth about $25,000. Ramirez Asset Management Inc. acquired a new stake in AT&T in the 3rd quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares in the last quarter. Western Pacific Wealth Management LP acquired a new position in AT&T during the 4th quarter worth $39,000. Finally, Financial Gravity Asset Management Inc. grew its stake in shares of AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after purchasing an additional 2,626 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on T shares. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Scotiabank boosted their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.32.

AT&T Stock Down 0.2 %

NYSE:T traded down $0.03 during trading hours on Friday, hitting $17.64. 22,652,283 shares of the company’s stock traded hands, compared to its average volume of 30,374,524. The stock’s fifty day moving average price is $17.18 and its two-hundred day moving average price is $17.06. The firm has a market cap of $126.48 billion, a P/E ratio of 9.48, a P/E/G ratio of 3.47 and a beta of 0.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.45.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the previous year, the company posted $0.60 EPS. AT&T’s revenue was down .4% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.29%. AT&T’s payout ratio is 59.68%.

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.