Coastline Trust Co Sells 35,000 Shares of AT&T Inc. (NYSE:T)

Coastline Trust Co cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 95.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,823 shares of the technology company's stock after selling 35,000 shares during the quarter. Coastline Trust Co's holdings in AT&T were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of T. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock valued at $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Legal & General Group Plc lifted its stake in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. LSV Asset Management grew its stake in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company's stock worth $575,070,000 after acquiring an additional 315,580 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of AT&T by 2.5% during the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company's stock valued at $537,256,000 after purchasing an additional 675,082 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of AT&T stock traded up $0.31 during trading on Monday, reaching $22.99. 34,053,305 shares of the stock traded hands, compared to its average volume of 35,515,438. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market capitalization of $164.96 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 3.40 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.85 and a 52-week high of $23.20. The business has a fifty day simple moving average of $21.89 and a two-hundred day simple moving average of $19.75.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.83%. AT&T's payout ratio is currently 90.24%.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. Daiwa America upgraded shares of AT&T to a "hold" rating in a research report on Friday, July 26th. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Finally, Oppenheimer raised their target price on AT&T from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.40.

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.