AT&T Inc. (NYSE:T) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in shares of AT&T Inc. (NYSE:T) by 54.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,193 shares of the technology company’s stock after selling 250,466 shares during the period. Edgestream Partners L.P.’s holdings in AT&T were worth $4,690,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of AT&T by 59.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 16,930 shares of the technology company’s stock valued at $286,000 after purchasing an additional 6,327 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in AT&T by 4.3% during the second quarter. Transcend Capital Advisors LLC now owns 42,008 shares of the technology company’s stock valued at $803,000 after buying an additional 1,733 shares in the last quarter. First Hawaiian Bank lifted its position in AT&T by 3.6% during the second quarter. First Hawaiian Bank now owns 140,702 shares of the technology company’s stock valued at $2,689,000 after buying an additional 4,874 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in AT&T by 11.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 32,645 shares of the technology company’s stock worth $624,000 after buying an additional 3,305 shares during the period. Finally, DNB Asset Management AS increased its position in shares of AT&T by 9.9% in the second quarter. DNB Asset Management AS now owns 1,227,698 shares of the technology company’s stock worth $23,461,000 after acquiring an additional 110,405 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

T opened at $23.16 on Friday. The company has a 50-day moving average of $22.17 and a 200-day moving average of $20.15. The company has a market capitalization of $166.18 billion, a P/E ratio of 18.83, a PEG ratio of 3.48 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.38. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

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, topping 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 net margin of 7.42% and a return on equity of 13.97%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal 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 $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Citigroup upped their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI increased their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.