AT&T Inc. (NYSE:T) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 17.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,008 shares of the technology company’s stock after selling 3,591 shares during the period. Lafayette Investments Inc.’s holdings in AT&T were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Grimes & Company Inc. grew its position in AT&T by 7.2% during the third quarter. Grimes & Company Inc. now owns 33,530 shares of the technology company’s stock valued at $738,000 after purchasing an additional 2,245 shares in the last quarter. Cherry Creek Investment Advisors Inc. raised its holdings in AT&T by 88.6% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 98,881 shares of the technology company’s stock worth $2,175,000 after acquiring an additional 46,460 shares during the period. Romano Brothers AND Company lifted its position in AT&T by 5.5% during the 3rd quarter. Romano Brothers AND Company now owns 187,069 shares of the technology company’s stock worth $4,116,000 after acquiring an additional 9,800 shares during the last quarter. Capital Investment Counsel Inc boosted its holdings in AT&T by 4.3% during the third quarter. Capital Investment Counsel Inc now owns 13,394 shares of the technology company’s stock valued at $295,000 after acquiring an additional 552 shares during the period. Finally, Heartland Bank & Trust Co grew its position in shares of AT&T by 3.1% in the third quarter. Heartland Bank & Trust Co now owns 22,785 shares of the technology company’s stock valued at $501,000 after purchasing an additional 692 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research analyst reports. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Oppenheimer raised their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Finally, Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $23.00.

AT&T Stock Down 1.5 %

Shares of NYSE T traded down $0.34 during trading hours on Thursday, hitting $22.15. The company had a trading volume of 4,129,388 shares, compared to its average volume of 35,592,789. The stock has a market capitalization of $158.82 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The firm’s 50 day moving average is $21.09 and its 200-day moving average is $19.06. AT&T Inc. has a 1-year low of $14.74 and a 1-year high of $22.58. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. On average, analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.01%. AT&T’s payout ratio is presently 63.79%.

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.