AT&T Inc. (NYSE:T) Shares Sold by Prentiss Smith & Co. Inc.

Prentiss Smith & Co. Inc. reduced its stake in AT&T Inc. (NYSE:T) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,946 shares of the technology company’s stock after selling 868 shares during the period. Prentiss Smith & Co. Inc.’s holdings in AT&T were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in T. Hayek Kallen Investment Management boosted its stake in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC boosted its stake in shares of AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after buying an additional 519 shares during the period. Carolinas Wealth Consulting LLC grew its holdings in shares of AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after acquiring an additional 521 shares in the last quarter. WealthCare Investment Partners LLC increased its stake in shares of AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the last quarter. Finally, Integral Investment Advisors Inc. raised its holdings in shares of AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after acquiring an additional 538 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

T stock traded down $0.07 during trading on Monday, hitting $21.78. 12,819,464 shares of the stock traded hands, compared to its average volume of 35,424,766. AT&T Inc. has a one year low of $14.74 and a one year high of $22.34. The company has a 50 day simple moving average of $20.95 and a 200 day simple moving average of $18.98. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $156.17 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 3.63 and a beta of 0.60.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.10%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on T shares. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Barclays raised their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T 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.