Probity Advisors Inc. Has $914,000 Stake in AT&T Inc. (NYSE:T)

Probity Advisors Inc. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,562 shares of the technology company’s stock after selling 668 shares during the period. Probity Advisors Inc.’s holdings in AT&T were worth $914,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in T. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd bought a new position in shares of AT&T during the 2nd quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on T. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T Stock Performance

Shares of NYSE:T opened at $21.71 on Thursday. 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 moving average price of $20.86 and a 200-day moving average price of $18.91. The company has a market cap of $155.66 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. AT&T Inc. has a 12 month low of $14.28 and a 12 month high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The business 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 quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

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

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.