CTC Alternative Strategies Ltd. Sells 8,327 Shares of AT&T Inc. (NYSE:T)

CTC Alternative Strategies Ltd. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 30.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,871 shares of the technology company’s stock after selling 8,327 shares during the period. AT&T makes up 0.5% of CTC Alternative Strategies Ltd.’s portfolio, making the stock its 28th biggest position. CTC Alternative Strategies Ltd.’s holdings in AT&T were worth $415,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Davidson Kempner Capital Management LP bought a new position in shares of AT&T during the 2nd quarter valued at about $23,888,000. Swiss National Bank lifted its stake in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Caprock Group LLC lifted its stake in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Talbot Financial LLC bought a new stake in AT&T in the 3rd quarter valued at approximately $7,438,000. Finally, Mackenzie Financial Corp lifted its stake in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on T shares. Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $24.73.

AT&T Stock Up 0.2 %

T stock opened at $23.88 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $171.35 billion, a PE ratio of 19.41, a PEG ratio of 3.58 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The business’s 50 day simple moving average is $22.36 and its 200 day simple moving average is $20.37.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $30.50 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.65%. AT&T’s payout ratio is 90.24%.

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.