AT&T Inc. (NYSE:T) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 13.2% during the third quarter, HoldingsChannel reports. The firm owned 101,221 shares of the technology company’s stock after selling 15,350 shares during the quarter. Redwood Investment Management LLC’s holdings in AT&T were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Pingora Partners LLC increased its stake in AT&T by 1.4% during the 3rd quarter. Pingora Partners LLC now owns 141,443 shares of the technology company’s stock valued at $3,112,000 after purchasing an additional 2,000 shares in the last quarter. IHT Wealth Management LLC lifted its stake in AT&T by 37.8% during the 3rd quarter. IHT Wealth Management LLC now owns 290,966 shares of the technology company’s stock valued at $6,412,000 after acquiring an additional 79,845 shares during the period. Intrepid Capital Management Inc. lifted its stake in AT&T by 9.2% during the 3rd quarter. Intrepid Capital Management Inc. now owns 14,839 shares of the technology company’s stock valued at $326,000 after acquiring an additional 1,250 shares during the period. Investmark Advisory Group LLC lifted its stake in AT&T by 2.7% during the 3rd quarter. Investmark Advisory Group LLC now owns 139,057 shares of the technology company’s stock valued at $3,059,000 after acquiring an additional 3,635 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in AT&T by 24.5% during the 3rd quarter. Janus Henderson Group PLC now owns 701,054 shares of the technology company’s stock valued at $15,413,000 after acquiring an additional 138,100 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on T. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Oppenheimer lifted their price target on AT&T from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.07.

AT&T Trading Down 0.8 %

T opened at $23.55 on Thursday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $22.28 and a 200-day simple moving average of $20.28. The firm has a market cap of $168.94 billion, a P/E ratio of 19.14, a P/E/G ratio of 3.56 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. On average, equities analysts expect 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. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.71%. 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.