Gateway Investment Advisers LLC Sells 208,397 Shares of AT&T Inc. (NYSE:T)

Gateway Investment Advisers LLC lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 11.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,581,234 shares of the technology company's stock after selling 208,397 shares during the quarter. Gateway Investment Advisers LLC's holdings in AT&T were worth $34,787,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of T. Octavia Wealth Advisors LLC increased its holdings in shares of AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company's stock worth $484,000 after buying an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in shares of AT&T by 2.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company's stock worth $452,000 after buying an additional 521 shares in the last quarter. WealthCare Investment Partners LLC increased its holdings in shares of AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company's stock worth $461,000 after buying an additional 525 shares in the last quarter. Integral Investment Advisors Inc. increased its holdings in shares of AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company's stock worth $322,000 after buying an additional 538 shares in the last quarter. Finally, Financial Counselors Inc. increased its holdings in shares of AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company's stock worth $1,767,000 after buying an additional 539 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Redburn Atlantic raised shares of AT&T to a "strong sell" rating in a research note on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They issued a "buy" rating and a $22.00 price objective on the stock. UBS Group reissued a "buy" rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 25th. Finally, Barclays boosted their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given 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 stock has an average rating of "Moderate Buy" and an average target price of $22.38.

AT&T Stock Up 0.7 %

Shares of T traded up $0.15 on Friday, reaching $21.37. The company's stock had a trading volume of 25,249,822 shares, compared to its average volume of 35,699,320. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a twelve month low of $14.23 and a twelve month high of $22.34. The stock has a market capitalization of $153.23 billion, a PE ratio of 12.28, a PEG ratio of 3.74 and a beta of 0.60. The firm has a fifty day moving average of $20.71 and a 200-day moving average of $18.82.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Equities analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.19%. AT&T's payout ratio is currently 63.79%.

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.