Aberdeen Wealth Management LLC Trims Position in AT&T Inc. (NYSE:T)

Aberdeen Wealth Management LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 7.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,863 shares of the technology company’s stock after selling 1,000 shares during the quarter. Aberdeen Wealth Management LLC’s holdings in AT&T were worth $261,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. Mercer Global Advisors Inc. ADV raised its position in shares of AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its holdings in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. boosted its holdings in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of AT&T in the second quarter worth about $78,570,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $22.99 on Tuesday. AT&T Inc. has a twelve month low of $15.85 and a twelve month high of $23.20. The firm has a market cap of $164.96 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 3.40 and a beta of 0.59. The business’s fifty day simple moving average is $21.92 and its two-hundred day simple moving average is $19.79. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.64 EPS. Analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Evercore ISI increased their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.