AT&T Inc. (NYSE:T) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lessened its stake in AT&T Inc. (NYSE:T) by 14.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,272 shares of the technology company’s stock after selling 13,735 shares during the period. Carret Asset Management LLC’s holdings in AT&T were worth $1,788,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in T. Riggs Asset Managment Co. Inc. raised its holdings in 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 worth $27,000 after buying an additional 1,116 shares during the period. 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 acquiring an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of AT&T during the second quarter valued at approximately $30,000. Marquette Asset Management LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in 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 worth $35,000 after purchasing an additional 1,192 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 1.7 %

AT&T stock opened at $21.83 on Friday. AT&T Inc. has a one year low of $14.74 and a one year high of $22.58. The company’s fifty day moving average price is $21.20 and its two-hundred day moving average price is $19.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market capitalization of $156.52 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 dividend yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on T. Barclays increased their target price on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company reduced their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research report on Thursday. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus 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.