AT&T Inc. (NYSE:T) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 56.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,755 shares of the technology company’s stock after selling 3,569 shares during the period. LGT Financial Advisors LLC’s holdings in AT&T were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JNBA Financial Advisors raised its holdings in AT&T by 18.1% in the 3rd quarter. JNBA Financial Advisors now owns 5,638 shares of the technology company’s stock worth $124,000 after purchasing an additional 863 shares during the period. Socha Financial Group LLC lifted its position in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares in the last quarter. Spinnaker Trust increased its holdings in AT&T by 0.4% in the 3rd quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock worth $2,741,000 after acquiring an additional 515 shares in the last quarter. Foster & Motley Inc. raised its position in AT&T by 12.2% during the third quarter. Foster & Motley Inc. now owns 145,271 shares of the technology company’s stock worth $3,196,000 after acquiring an additional 15,826 shares during the period. Finally, Harvest Portfolios Group Inc. lifted its holdings in AT&T by 2.3% during the third quarter. Harvest Portfolios Group Inc. now owns 287,829 shares of the technology company’s stock valued at $6,332,000 after purchasing an additional 6,393 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the subject of several research analyst reports. 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. JPMorgan Chase & Co. lifted their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

Shares of NYSE T opened at $22.32 on Thursday. The stock has a market cap of $160.15 billion, a P/E ratio of 18.15, a P/E/G ratio of 3.29 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.46 and a twelve month high of $22.73. The stock has a 50 day moving average of $21.61 and a two-hundred day moving average of $19.46. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly 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 return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 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.