Pathstone Holdings LLC Sells 51,293 Shares of AT&T Inc. (NYSE:T)

Pathstone Holdings LLC trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 702,128 shares of the technology company's stock after selling 51,293 shares during the period. Pathstone Holdings LLC's holdings in AT&T were worth $15,447,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC raised its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company's stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock worth $29,000 after acquiring an additional 841 shares during the period. American Capital Advisory LLC raised its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in AT&T in the 2nd quarter valued at about $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on T shares. Scotiabank lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. Finally, Oppenheimer lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.40.

AT&T Trading Up 0.4 %

Shares of T traded up $0.10 during trading hours on Wednesday, reaching $22.83. The stock had a trading volume of 20,419,210 shares, compared to its average volume of 35,400,484. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $23.20. 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 firm has a 50-day moving average of $21.94 and a 200 day moving average of $19.84. The company has a market cap of $163.81 billion, a P/E ratio of 18.48, a P/E/G ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's dividend payout ratio is presently 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.