AT&T Inc. (NYSE:T) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 18.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,174 shares of the technology company’s stock after selling 2,601 shares during the quarter. Wrapmanager Inc.’s holdings in AT&T were worth $246,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its stake in shares of 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 valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 valued at $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. boosted its stake in shares of AT&T by 22.0% during the 2nd 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 during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of AT&T during the second quarter worth approximately $78,570,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Price Performance

NYSE T opened at $22.73 on Wednesday. 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 Inc. has a 1 year low of $15.85 and a 1 year high of $23.20. The company has a market cap of $163.09 billion, a PE ratio of 18.48, a PEG ratio of 3.40 and a beta of 0.59. The stock’s 50-day moving average price is $21.94 and its two-hundred day moving average price is $19.84.

AT&T (NYSE:T) last issued its quarterly 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. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. 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 4.88%. AT&T’s payout ratio 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.