Equity Investment Corp Has $196.43 Million Holdings in AT&T Inc. (NYSE:T)

Equity Investment Corp reduced its position in AT&T Inc. (NYSE:T - Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,928,483 shares of the technology company's stock after selling 115,501 shares during the quarter. AT&T comprises approximately 4.6% of Equity Investment Corp's portfolio, making the stock its biggest position. Equity Investment Corp owned approximately 0.12% of AT&T worth $196,427,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE lifted its position in AT&T by 169.2% during the 3rd 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. Riggs Asset Managment Co. Inc. lifted its holdings in shares of 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 worth $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC grew its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock valued at $30,000 after buying an additional 807 shares during the last quarter. Reston Wealth Management LLC acquired a new position in AT&T in the 3rd quarter valued at $35,000. Finally, Altshuler Shaham Ltd purchased a new position in AT&T during the 2nd quarter worth $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Citigroup boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Thursday, July 25th. Finally, Scotiabank lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, AT&T has an average rating of "Moderate Buy" and a consensus target price of $23.40.

AT&T Trading Up 1.4 %

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 business's 50 day moving average price is $21.92 and its 200-day moving average price is $19.79. The firm has a market capitalization of $164.96 billion, a PE ratio of 18.69, a P/E/G ratio of 3.40 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 52-week low of $15.85 and a 52-week high of $23.20.

AT&T (NYSE:T - Get Free Report) last released 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. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

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