Gilbert & Cook Inc. Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Gilbert & Cook Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,040 shares of the technology company’s stock after selling 2,931 shares during the period. Gilbert & Cook Inc.’s holdings in AT&T were worth $727,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP purchased a new position in AT&T during the second quarter worth about $23,888,000. Talbot Financial LLC purchased a new position in AT&T in the third quarter valued at about $7,438,000. Mackenzie Financial Corp increased its holdings in AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares in the last quarter. DRW Securities LLC increased its holdings in AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in AT&T by 7.2% in the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after buying an additional 26,706 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Barclays raised their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Up 1.9 %

T stock opened at $22.68 on Friday. The stock has a market capitalization of $162.74 billion, a P/E ratio of 18.44, a PEG ratio of 3.40 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a one year low of $15.75 and a one year high of $22.75. The company has a 50 day moving average price of $21.89 and a two-hundred day moving average price of $19.73.

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

AT&T Announces Dividend

The business also recently declared 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 dividend yield of 4.89%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.