Sentry Investment Management LLC Sells 25,099 Shares of AT&T Inc. (NYSE:T)

Sentry Investment Management LLC trimmed its position in AT&T Inc. (NYSE:T) by 72.9% in the 3rd quarter, Holdings Channel reports. The firm owned 9,316 shares of the technology company’s stock after selling 25,099 shares during the quarter. Sentry Investment Management LLC’s holdings in AT&T were worth $205,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TD Cowen increased their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Down 0.9 %

Shares of T opened at $21.92 on Tuesday. AT&T Inc. has a 1-year low of $15.46 and a 1-year high of $22.73. The firm has a market capitalization of $157.28 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.32 and a beta of 0.59. The firm’s 50-day moving average price is $21.51 and its 200-day moving average price is $19.40. 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 (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.06%. AT&T’s dividend payout ratio (DPR) is 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.