Ironwood Investment Counsel LLC Sells 17,001 Shares of AT&T Inc. (NYSE:T)

Ironwood Investment Counsel LLC decreased its holdings in AT&T Inc. (NYSE:T) by 13.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 110,527 shares of the technology company’s stock after selling 17,001 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in AT&T were worth $2,432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T during the 2nd quarter valued at about $23,888,000. Swiss National Bank boosted its stake in AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Caprock Group LLC grew its stake in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Talbot Financial LLC acquired a new stake in shares of AT&T in the third quarter valued at approximately $7,438,000. Finally, Mackenzie Financial Corp increased its stake in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the topic of a number of recent analyst reports. Oppenheimer upped their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Citigroup raised their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI increased their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.53.

AT&T Stock Down 0.5 %

Shares of T stock opened at $23.16 on Friday. The company has a market capitalization of $166.18 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.49 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.38. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $20.13.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. As a group, research 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.