Barrett & Company Inc. Lowers Position in AT&T Inc. (NYSE:T)

Barrett & Company Inc. lessened its stake in AT&T Inc. (NYSE:T) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,041 shares of the technology company’s stock after selling 652 shares during the quarter. Barrett & Company Inc.’s holdings in AT&T were worth $243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hayek Kallen Investment Management increased its position in shares of AT&T by 0.8% during the third 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. Lake Street Advisors Group LLC raised its holdings in shares of AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 513 shares during the last quarter. Octavia Wealth Advisors LLC boosted its holdings in AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares during the last quarter. Carolinas Wealth Consulting LLC grew its position in AT&T by 2.3% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares in the last quarter. Finally, WealthCare Investment Partners LLC boosted its stake in shares of AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE T traded up $0.23 during trading hours on Monday, hitting $22.06. The company’s stock had a trading volume of 5,134,502 shares, compared to its average volume of 35,562,133. The company has a market cap of $158.18 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. The company’s 50 day simple moving average is $21.20 and its two-hundred day simple moving average is $19.15. AT&T Inc. has a 12 month low of $14.91 and a 12 month high of $22.58. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last announced its earnings results 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 net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

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 issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.03%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Ratings Changes

A number of research firms have recently weighed in on T. Oppenheimer increased their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Barclays boosted their price objective on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday. Finally, Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.