Barrett & Company Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Barrett & Company Inc. lowered its position in AT&T Inc. (NYSE:T) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,041 shares of the technology company’s stock after selling 652 shares during the quarter. Barrett & Company Inc.’s holdings in AT&T were worth $243,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in T. Aviance Capital Partners LLC raised its stake in shares of AT&T by 7.4% during the 1st quarter. Aviance Capital Partners LLC now owns 23,060 shares of the technology company’s stock worth $406,000 after acquiring an additional 1,595 shares in the last quarter. Diversified Trust Co boosted its position in shares of AT&T by 12.5% in the 1st quarter. Diversified Trust Co now owns 147,249 shares of the technology company’s stock worth $2,592,000 after purchasing an additional 16,355 shares in the last quarter. Miracle Mile Advisors LLC increased its position in AT&T by 3.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 35,699 shares of the technology company’s stock valued at $628,000 after buying an additional 1,061 shares in the last quarter. Claro Advisors LLC raised its stake in AT&T by 5.8% in the first quarter. Claro Advisors LLC now owns 26,711 shares of the technology company’s stock valued at $470,000 after buying an additional 1,474 shares during the last quarter. Finally, Cullinan Associates Inc. grew its stake in shares of AT&T by 42.4% during the first quarter. Cullinan Associates Inc. now owns 20,156 shares of the technology company’s stock worth $355,000 after acquiring an additional 6,000 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.1 %

NYSE:T traded up $0.23 on Monday, reaching $22.06. The company’s stock had a trading volume of 5,134,502 shares, compared to its average volume of 35,562,133. The firm has a market cap of $158.18 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. AT&T Inc. has a 12-month low of $14.91 and a 12-month high of $22.58. The stock has a 50 day moving average price of $21.20 and a 200 day moving average price of $19.15. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.03%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Citigroup boosted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.