Rockefeller Capital Management L.P. Sells 334,915 Shares of AT&T Inc. (NYSE:T)

Rockefeller Capital Management L.P. reduced its position in shares of AT&T Inc. (NYSE:T) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,394,007 shares of the technology company’s stock after selling 334,915 shares during the period. Rockefeller Capital Management L.P.’s holdings in AT&T were worth $162,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC grew its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter worth about $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in AT&T during the second quarter worth about $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE T opened at $23.27 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market cap of $166.97 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.49 and a beta of 0.59. The business has a 50 day simple moving average of $22.14 and a 200 day simple moving average of $20.09. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.38.

AT&T (NYSE:T) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.77%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

A number of brokerages have commented on T. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

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.