AT&T Inc. (NYSE:T) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lowered its stake in AT&T Inc. (NYSE:T) by 6.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 41,768 shares of the technology company’s stock after selling 2,766 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in AT&T were worth $919,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Up 2.0 %

Shares of T opened at $22.69 on Friday. The stock has a market capitalization of $162.81 billion, a PE ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59. 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 firm’s 50 day moving average is $21.89 and its 200-day moving average is $19.71. AT&T Inc. has a 12 month low of $15.75 and a 12 month high of $22.75.

AT&T (NYSE:T) last issued its 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 company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. Equities research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.