Bank of Montreal Can Cuts Stake in AT&T Inc. (NYSE:T)

Bank of Montreal Can cut its holdings in shares of AT&T Inc. (NYSE:T) by 9.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,242,879 shares of the technology company’s stock after selling 1,542,949 shares during the period. Bank of Montreal Can’s holdings in AT&T were worth $333,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chesapeake Wealth Management grew its position in shares of AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares during the last quarter. Socha Financial Group LLC boosted its position in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares during the period. Essex Savings Bank grew its position in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares in the last quarter. Hayek Kallen Investment Management increased its stake in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the period. Finally, Aviance Capital Partners LLC raised its stake in shares of AT&T by 2.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock worth $537,000 after buying an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.1 %

Shares of T traded down $0.02 during mid-day trading on Monday, hitting $23.16. 4,319,306 shares of the company’s stock were exchanged, compared to its average volume of 35,211,613. The stock has a market cap of $166.18 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 3.48 and a beta of 0.59. The firm has a fifty day moving average of $22.02 and a two-hundred day moving average of $19.96. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.32.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Evercore ISI lifted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.