Kennedy Investment Group Trims Holdings in AT&T Inc. (NYSE:T)

Kennedy Investment Group lowered its position in shares of AT&T Inc. (NYSE:T) by 23.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,077 shares of the technology company’s stock after selling 6,094 shares during the period. Kennedy Investment Group’s holdings in AT&T were worth $442,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. increased its position in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T in the 2nd quarter valued at about $30,000. Marquette Asset Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on T. Oppenheimer raised their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Stock Performance

T traded down $0.20 during midday trading on Monday, reaching $21.65. The company had a trading volume of 15,065,994 shares, compared to its average volume of 35,433,266. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market cap of $155.23 billion, a PE ratio of 11.71, a P/E/G ratio of 3.63 and a beta of 0.60. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34. The business has a 50-day moving average price of $20.95 and a two-hundred day moving average price of $18.98.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.13%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

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.