AT&T Inc. (NYSE:T) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lessened its stake in AT&T Inc. (NYSE:T) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 561,897 shares of the technology company’s stock after selling 7,202 shares during the period. Citizens Financial Group Inc. RI’s holdings in AT&T were worth $12,362,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of T. Chesapeake Wealth Management lifted its position in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC grew its position in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares in the last quarter. Essex Savings Bank increased its stake in shares of AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares during the last quarter. Hayek Kallen Investment Management grew its holdings in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 500 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its position in shares of AT&T by 2.1% during the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock worth $537,000 after purchasing an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $22.83 on Thursday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $23.20. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market cap of $163.81 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. The company’s 50-day moving average price is $21.96 and its two-hundred day moving average price is $19.86.

AT&T (NYSE:T) last released its earnings results 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 business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of several research reports. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Oppenheimer raised their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company lowered 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, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

About AT&T

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.