Robeco Institutional Asset Management B.V. Sells 1,373,704 Shares of AT&T Inc. (NYSE:T)

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,231,395 shares of the technology company’s stock after selling 1,373,704 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in AT&T were worth $269,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hayek Kallen Investment Management grew its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after acquiring an additional 513 shares during the last quarter. Octavia Wealth Advisors LLC grew its holdings in AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 2.3% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares during the last quarter. Finally, WealthCare Investment Partners LLC raised its holdings in shares of AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Performance

Shares of T opened at $22.12 on Monday. 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 Inc. has a 52-week low of $15.46 and a 52-week high of $22.73. The company has a 50-day simple moving average of $21.47 and a 200-day simple moving average of $19.36. The company has a market capitalization of $158.72 billion, a PE ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results 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. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.