AT&T Inc. (NYSE:T) Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,737 shares of the technology company’s stock after selling 3,832 shares during the period. Applied Finance Capital Management LLC’s holdings in AT&T were worth $1,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV lifted its stake in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. increased its holdings in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in AT&T in the 2nd quarter valued at $78,570,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.5 %

Shares of T stock opened at $22.37 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $22.73. The stock has a market capitalization of $160.48 billion, a P/E ratio of 18.18, a P/E/G ratio of 3.35 and a beta of 0.59. The stock has a 50-day simple moving average of $21.70 and a 200 day simple moving average of $19.52.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. On average, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup increased their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. One equities research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.