RB Capital Management LLC Sells 1,228 Shares of AT&T Inc. (NYSE:T)

RB Capital Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 5.8% in the third quarter, HoldingsChannel reports. The firm owned 19,840 shares of the technology company’s stock after selling 1,228 shares during the period. RB Capital Management LLC’s holdings in AT&T were worth $436,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in T. Mercer Global Advisors Inc. ADV lifted its holdings in 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 worth $270,581,000 after buying an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its stake in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AT&T by 7.4% during 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 during the last quarter. Thornburg Investment Management Inc. grew its stake in AT&T by 22.0% in the second 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. purchased a new position in AT&T in the second quarter valued at about $78,570,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 2.1 %

NYSE T opened at $23.38 on Tuesday. The company has a fifty day moving average of $22.39 and a 200 day moving average of $20.43. The company has a market capitalization of $167.76 billion, a PE ratio of 19.01, a P/E/G ratio of 3.63 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for 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%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Research analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 annualized dividend and a yield of 4.75%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on T. Evercore ISI raised 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. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.73.

About AT&T

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.