AT&T Inc. (NYSE:T) Stake Lowered by Coastline Trust Co

Coastline Trust Co trimmed its stake in shares of AT&T Inc. (NYSE:T) by 95.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,823 shares of the technology company’s stock after selling 35,000 shares during the quarter. Coastline Trust Co’s holdings in AT&T were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in AT&T by 7.4% in 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 purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its holdings in AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after buying an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its stake in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares in the last quarter. LSV Asset Management boosted its position in AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after acquiring an additional 315,580 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of AT&T by 2.5% in the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock opened at $22.68 on Monday. AT&T Inc. has a fifty-two week low of $15.75 and a fifty-two week high of $22.75. The firm’s 50 day simple moving average is $21.89 and its 200-day simple moving average is $19.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market cap of $162.74 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59.

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, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analyst Ratings Changes

A number of brokerages recently weighed in on T. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Oppenheimer upped their price target on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays raised their price objective on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI upped their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Citigroup lifted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.40.

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.