AT&T Inc. (NYSE:T) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. decreased its stake in AT&T Inc. (NYSE:T) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,438 shares of the technology company’s stock after selling 468 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in AT&T were worth $1,022,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Smith Salley Wealth Management increased its position in shares of AT&T by 3.5% during the third quarter. Smith Salley Wealth Management now owns 110,897 shares of the technology company’s stock worth $2,440,000 after purchasing an additional 3,786 shares in the last quarter. Bristlecone Advisors LLC acquired a new stake in AT&T during the 3rd quarter worth $212,000. DekaBank Deutsche Girozentrale grew its holdings in shares of AT&T by 0.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,390,279 shares of the technology company’s stock worth $52,442,000 after buying an additional 8,541 shares in the last quarter. Modera Wealth Management LLC raised its position in shares of AT&T by 23.1% in the third quarter. Modera Wealth Management LLC now owns 56,875 shares of the technology company’s stock valued at $1,251,000 after buying an additional 10,654 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of AT&T by 14.5% in the third quarter. GHP Investment Advisors Inc. now owns 15,314 shares of the technology company’s stock worth $337,000 after buying an additional 1,940 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on T shares. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday. Tigress Financial lifted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Down 1.7 %

Shares of T opened at $21.83 on Friday. The company’s 50-day simple moving average is $21.20 and its 200-day simple moving average is $19.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.58. The stock has a market capitalization of $156.52 billion, a PE ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last released its 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 analyst estimates of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. Analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) 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.