AT&T Inc. (NYSE:T) Position Decreased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 15.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,958 shares of the technology company’s stock after selling 14,997 shares during the period. Raleigh Capital Management Inc.’s holdings in AT&T were worth $1,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. AdvisorNet Financial Inc lifted its stake in AT&T by 12.3% during the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock valued at $352,000 after buying an additional 2,186 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of AT&T in the 1st quarter valued at approximately $2,436,000. Austin Private Wealth LLC boosted its stake in AT&T by 12.9% in the 1st quarter. Austin Private Wealth LLC now owns 18,345 shares of the technology company’s stock worth $323,000 after purchasing an additional 2,101 shares during the period. Capital Advisors Wealth Management LLC grew its position in AT&T by 26.9% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 18,662 shares of the technology company’s stock worth $328,000 after purchasing an additional 3,958 shares in the last quarter. Finally, Charles Schwab Trust Co raised its stake in AT&T by 13.4% during the 1st quarter. Charles Schwab Trust Co now owns 16,594 shares of the technology company’s stock valued at $292,000 after purchasing an additional 1,962 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

NYSE T opened at $21.67 on Tuesday. The company has a market cap of $155.38 billion, a P/E ratio of 12.45, a P/E/G ratio of 3.73 and a beta of 0.60. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $20.99 and a 200 day simple moving average of $19.01.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the business posted $0.63 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.12%. AT&T’s dividend payout ratio is 63.79%.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. Moffett Nathanson lifted their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Citigroup lifted their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI increased their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Company 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.