Maple Capital Management Inc. Sells 1,412 Shares of AT&T Inc. (NYSE:T)

Maple Capital Management Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,102 shares of the technology company’s stock after selling 1,412 shares during the quarter. Maple Capital Management Inc.’s holdings in AT&T were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC raised its holdings in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC increased its stake in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. 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 note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company boosted their price objective on AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T Trading Down 1.5 %

NYSE:T opened at $21.34 on Tuesday. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average price of $20.99 and a two-hundred day moving average price of $19.01. The company has a market cap of $153.01 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 63.79%.

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.