Wasatch Advisors LP Lowers Position in AT&T Inc. (NYSE:T)

Wasatch Advisors LP trimmed its position in shares of AT&T Inc. (NYSE:T) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,000 shares of the technology company’s stock after selling 45,000 shares during the quarter. Wasatch Advisors LP’s holdings in AT&T were worth $3,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Davidson Kempner Capital Management LP bought a new stake in AT&T during the second quarter worth $23,888,000. Swiss National Bank raised its stake in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Caprock Group LLC boosted its holdings in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares during the last quarter. Talbot Financial LLC bought a new position in AT&T during the third quarter valued at about $7,438,000. Finally, Mackenzie Financial Corp increased its holdings in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research analyst reports. Moffett Nathanson boosted their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. Citigroup boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

AT&T Price Performance

Shares of NYSE T opened at $23.16 on Friday. The firm has a market capitalization of $166.18 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.48 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $22.17 and its two-hundred day simple moving average is $20.15. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.38.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the business posted $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. AT&T’s dividend payout ratio is presently 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.