AT&T Inc. (NYSE:T) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 46.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,837 shares of the technology company's stock after selling 33,696 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in AT&T were worth $854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its holdings in shares of AT&T by 4.0% during the first quarter. Orion Portfolio Solutions LLC now owns 328,199 shares of the technology company's stock valued at $5,776,000 after purchasing an additional 12,591 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of AT&T by 27.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 44,033 shares of the technology company's stock worth $775,000 after acquiring an additional 9,602 shares during the period. Motco raised its holdings in shares of AT&T by 22.3% during the first quarter. Motco now owns 10,774 shares of the technology company's stock valued at $190,000 after purchasing an additional 1,963 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in AT&T by 2.5% in the first quarter. Tocqueville Asset Management L.P. now owns 71,279 shares of the technology company's stock worth $1,255,000 after purchasing an additional 1,716 shares during the last quarter. Finally, M&G Plc bought a new stake in AT&T in the 1st quarter worth approximately $9,074,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 1.9 %

Shares of NYSE T traded up $0.43 during midday trading on Friday, reaching $22.68. 40,123,988 shares of the stock were exchanged, compared to its average volume of 35,514,441. The stock has a market capitalization of $162.74 billion, a P/E ratio of 18.20, a PEG ratio of 3.35 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.75 and a twelve month high of $22.75. The company has a 50 day simple moving average of $21.85 and a 200 day simple moving average of $19.67. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the company earned $0.64 EPS. AT&T's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid 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 4.89%. AT&T's dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Scotiabank downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. Oppenheimer raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, TD Cowen upped 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $23.40.

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.