Robeco Institutional Asset Management B.V. Decreases Stake in AT&T Inc. (NYSE:T)

Robeco Institutional Asset Management B.V. cut its holdings in shares of AT&T Inc. (NYSE:T) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,231,395 shares of the technology company’s stock after selling 1,373,704 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.17% of AT&T worth $269,091,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Davidson Kempner Capital Management LP bought a new position in AT&T in the 2nd quarter worth $23,888,000. Talbot Financial LLC purchased a new position in shares of AT&T during the 3rd quarter valued at about $7,438,000. Mackenzie Financial Corp grew its stake in shares of AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares during the period. DRW Securities LLC increased its holdings in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 1.9 %

T opened at $22.12 on Monday. The stock has a 50-day moving average of $21.47 and a 200 day moving average of $19.36. 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 12 month low of $15.46 and a 12 month high of $22.73. The firm has a market cap of $158.72 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59.

AT&T (NYSE:T) last announced 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. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on T. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Wells Fargo & Company cut their price target 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. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, 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. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

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.