Moloney Securities Asset Management LLC Sells 3,487 Shares of AT&T Inc. (NYSE:T)

Moloney Securities Asset Management LLC decreased its holdings in AT&T Inc. (NYSE:T) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,121 shares of the technology company’s stock after selling 3,487 shares during the period. Moloney Securities Asset Management LLC’s holdings in AT&T were worth $2,269,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of AT&T in the first quarter worth $165,000. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of AT&T by 51.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 198,102 shares of the technology company’s stock valued at $3,487,000 after purchasing an additional 67,142 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of AT&T by 10.3% in the first quarter. Rehmann Capital Advisory Group now owns 44,267 shares of the technology company’s stock worth $779,000 after purchasing an additional 4,121 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of AT&T by 72.1% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 33,441 shares of the technology company’s stock worth $589,000 after acquiring an additional 14,005 shares in the last quarter. Finally, Callan Capital LLC purchased a new stake in AT&T during the first quarter valued at $238,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Evercore ISI lifted their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Performance

Shares of NYSE T opened at $21.92 on Tuesday. 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 company has a 50 day simple moving average of $21.51 and a two-hundred day simple moving average of $19.40. AT&T Inc. has a 12 month low of $15.46 and a 12 month high of $22.73. The stock has a market cap of $157.28 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.32 and a beta of 0.59.

AT&T (NYSE:T) last announced 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 return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 5.06%. AT&T’s dividend payout ratio is presently 90.24%.

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.