AT&T Inc. (NYSE:T) Position Lessened by Raelipskie Partnership

Raelipskie Partnership trimmed its position in shares of AT&T Inc. (NYSE:T) by 29.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,211 shares of the technology company’s stock after selling 505 shares during the quarter. Raelipskie Partnership’s holdings in AT&T were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. RFG Advisory LLC lifted its position in shares of AT&T by 2.6% in the second quarter. RFG Advisory LLC now owns 74,612 shares of the technology company’s stock worth $1,426,000 after buying an additional 1,882 shares during the last quarter. Insight Advisors LLC PA bought a new position in AT&T in the 2nd quarter worth $205,000. Wedmont Private Capital raised its holdings in AT&T by 18.2% in the 2nd quarter. Wedmont Private Capital now owns 65,434 shares of the technology company’s stock worth $1,231,000 after acquiring an additional 10,074 shares during the period. Burke & Herbert Bank & Trust Co. lifted its position in AT&T by 160.4% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 58,467 shares of the technology company’s stock worth $1,117,000 after acquiring an additional 36,013 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in AT&T by 1.8% during the second quarter. Diversified Trust Co now owns 149,972 shares of the technology company’s stock valued at $2,866,000 after acquiring an additional 2,723 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Oppenheimer lifted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.73.

AT&T Price Performance

AT&T stock opened at $23.88 on Monday. The business has a 50 day simple moving average of $22.36 and a 200 day simple moving average of $20.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market capitalization of $171.35 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the business earned $0.64 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.65%. AT&T’s dividend payout ratio is 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.