tru Independence LLC Trims Position in AT&T Inc. (NYSE:T)

tru Independence LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 266,854 shares of the technology company’s stock after selling 4,717 shares during the period. AT&T accounts for approximately 1.7% of tru Independence LLC’s portfolio, making the stock its 20th largest position. tru Independence LLC’s holdings in AT&T were worth $5,871,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC grew its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% during the second 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 grew its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new position in AT&T during the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given 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 has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Up 0.3 %

NYSE:T traded up $0.07 on Monday, hitting $22.41. 1,468,586 shares of the company’s stock traded hands, compared to its average volume of 35,469,430. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1 year low of $15.51 and a 1 year high of $22.73. The firm has a 50-day moving average price of $21.70 and a 200-day moving average price of $19.56. The company has a market cap of $160.80 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.95%. AT&T’s payout ratio is currently 90.24%.

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.