AT&T Inc. (NYSE:T) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in shares of AT&T Inc. (NYSE:T) by 12.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,947,459 shares of the technology company’s stock after selling 283,674 shares during the period. AT&T accounts for about 1.0% of Martingale Asset Management L P’s holdings, making the stock its 12th largest position. Martingale Asset Management L P’s holdings in AT&T were worth $42,844,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Suvretta Capital Management LLC increased its holdings in AT&T by 4.5% during the 3rd quarter. Suvretta Capital Management LLC now owns 2,285,336 shares of the technology company’s stock worth $50,277,000 after purchasing an additional 98,450 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in AT&T during the 3rd quarter worth about $145,000. Vinva Investment Management Ltd increased its holdings in AT&T by 4.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 330,387 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 13,026 shares during the period. Public Sector Pension Investment Board increased its holdings in AT&T by 1.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,201,214 shares of the technology company’s stock worth $70,427,000 after purchasing an additional 34,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AT&T by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,606,959 shares of the technology company’s stock worth $101,353,000 after purchasing an additional 624,304 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup upped their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Tigress Financial increased their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

AT&T Stock Up 0.8 %

T opened at $23.27 on Friday. 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 business has a 50 day simple moving average of $22.14 and a 200-day simple moving average of $20.09. The stock has a market capitalization of $166.97 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.49 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 posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

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.