AT&T Inc. (NYSE:T) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lessened its stake in AT&T Inc. (NYSE:T) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,279 shares of the technology company’s stock after selling 2,114 shares during the period. Anchor Investment Management LLC’s holdings in AT&T were worth $820,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in T. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in 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 valued at $35,000 after acquiring an additional 1,192 shares during the period. Silver Lake Advisory LLC acquired a new position in AT&T during the 2nd quarter worth approximately $349,000. Blue Trust Inc. increased its position in AT&T by 31.6% during the 2nd quarter. Blue Trust Inc. now owns 39,247 shares of the technology company’s stock worth $691,000 after purchasing an additional 9,434 shares during the period. Brookstone Capital Management increased its position in AT&T by 2.7% during the 2nd quarter. Brookstone Capital Management now owns 786,174 shares of the technology company’s stock worth $15,063,000 after purchasing an additional 20,492 shares during the period. Finally, Gradient Investments LLC increased its position in AT&T by 30.7% during the 2nd quarter. Gradient Investments LLC now owns 30,677 shares of the technology company’s stock worth $586,000 after purchasing an additional 7,198 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.5 %

Shares of T opened at $23.36 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $167.61 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The stock’s fifty day simple moving average is $22.44 and its 200 day simple moving average is $20.49. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.75%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Ratings Changes

Several equities analysts have issued reports on T shares. Oppenheimer started coverage on AT&T in a research report on Tuesday. They set an “outperform” rating and a $28.00 target price on the stock. Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

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.