AT&T Inc. (NYSE:T) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,874,436 shares of the technology company’s stock after selling 65,504 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of AT&T worth $85,238,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of T. Chesapeake Wealth Management increased its position in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC raised its stake in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares in the last quarter. Essex Savings Bank lifted its holdings in shares of AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares during the period. Hayek Kallen Investment Management increased its stake in AT&T by 0.8% in 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 position in AT&T by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock worth $537,000 after purchasing an additional 501 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

AT&T stock opened at $23.15 on Monday. The business’s 50-day simple moving average is $22.17 and its 200 day simple moving average is $20.17. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $166.11 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 3.48 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.38.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced 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. This represents a $1.11 annualized dividend 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 Ratings Changes

Several research firms have recently weighed in on T. Oppenheimer upped their price objective on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup upped their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Evercore ISI boosted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Moffett Nathanson raised their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

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.