Sweeney & Michel LLC Sells 3,968 Shares of AT&T Inc. (NYSE:T)

Sweeney & Michel LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 20.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,181 shares of the technology company’s stock after selling 3,968 shares during the period. Sweeney & Michel LLC’s holdings in AT&T were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of T. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC lifted its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Altshuler Shaham Ltd bought a new stake in AT&T during the 2nd quarter valued at approximately $30,000. Marquette Asset Management LLC purchased a new position in shares of AT&T during the 3rd quarter worth approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on T shares. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Barclays raised their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI boosted their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.69.

AT&T Price Performance

T traded down $0.29 on Tuesday, hitting $21.37. 7,413,299 shares of the company’s stock were exchanged, compared to its average volume of 35,371,000. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.34. 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 $153.23 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 3.73 and a beta of 0.60. The firm has a 50-day moving average price of $20.99 and a 200-day moving average price of $19.01.

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 net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.19%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

About AT&T

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.