Logan Capital Management Inc. Sells 77,767 Shares of AT&T Inc. (NYSE:T)

Logan Capital Management Inc. reduced its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 844,869 shares of the technology company's stock after selling 77,767 shares during the quarter. Logan Capital Management Inc.'s holdings in AT&T were worth $18,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Davidson Kempner Capital Management LP bought a new position in shares of AT&T in the 2nd quarter valued at about $23,888,000. Swiss National Bank boosted its position in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company's stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Caprock Group LLC increased its holdings in shares of AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company's stock valued at $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Talbot Financial LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $7,438,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company's stock worth $50,486,000 after buying an additional 288,093 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of T stock traded up $0.27 on Friday, reaching $23.63. The company had a trading volume of 33,672,094 shares, compared to its average volume of 35,519,809. The business's 50-day moving average is $22.47 and its 200 day moving average is $20.51. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $169.55 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company's quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, January 10th. AT&T's dividend payout ratio (DPR) is currently 90.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on T shares. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Sanford C. Bernstein initiated coverage on AT&T in a report on Tuesday. They issued an "outperform" rating and a $28.00 price objective on the stock. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Royal Bank of Canada restated a "sector perform" rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Finally, Moffett Nathanson lifted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.00.

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.