AT&T Inc. (NYSE:T) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 844,869 shares of the technology company’s stock after selling 77,767 shares during the period. Logan Capital Management Inc.’s holdings in AT&T were worth $18,587,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. raised its position in shares of AT&T by 19.7% during the third quarter. Inspire Trust Co. N.A. now owns 140,000 shares of the technology company’s stock worth $3,080,000 after purchasing an additional 23,000 shares during the period. Franklin Resources Inc. boosted its position in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. Tidal Investments LLC increased its stake in AT&T by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company’s stock worth $14,096,000 after purchasing an additional 10,954 shares in the last quarter. Destination Wealth Management acquired a new stake in AT&T during the 3rd quarter worth about $240,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in AT&T by 386.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company’s stock valued at $5,864,000 after buying an additional 211,723 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer assumed coverage on AT&T in a research report on Tuesday. They set an “outperform” rating and a $28.00 price target on the stock. Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.00.

AT&T Stock Performance

Shares of NYSE:T traded down $0.03 on Friday, hitting $23.33. 1,316,126 shares of the company were exchanged, compared to its average volume of 35,382,637. The company’s 50 day moving average price is $22.47 and its two-hundred day moving average price is $20.51. The firm has a market capitalization of $167.40 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates 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 was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Research analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.76%. AT&T’s 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.