AT&T Inc. (NYSE:T) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 2.6% during the third quarter, HoldingsChannel reports. The firm owned 54,530 shares of the technology company’s stock after selling 1,440 shares during the quarter. Stonegate Investment Group LLC’s holdings in AT&T were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of T. Vanguard Group Inc. increased its stake in shares of AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares during the period. Bank of New York Mellon Corp increased its stake in shares of AT&T by 7.4% in the second 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 acquiring an additional 5,592,123 shares during the period. Legal & General Group Plc increased its stake in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares during the period. Ameriprise Financial Inc. boosted its holdings in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on T shares. Wells Fargo & Company increased their price target on shares of AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup increased their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. TD Cowen increased their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Oppenheimer increased their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Price Performance

Shares of NYSE T opened at $21.85 on Friday. The firm has a 50-day simple moving average of $20.95 and a 200-day simple moving average of $18.96. The stock has a market capitalization of $156.67 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.34.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is currently 59.68%.

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.