AT&T Inc. (NYSE:T) Shares Sold by Sessa Capital IM L.P.

Sessa Capital IM L.P. lessened its holdings in AT&T Inc. (NYSE:T - Free Report) by 12.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,666,191 shares of the technology company's stock after selling 500,000 shares during the quarter. AT&T accounts for approximately 3.0% of Sessa Capital IM L.P.'s holdings, making the stock its 11th largest holding. Sessa Capital IM L.P. owned 0.05% of AT&T worth $80,656,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% in 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. Riggs Asset Managment Co. Inc. grew its holdings in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC increased its position in shares of AT&T by 107.5% in the second 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 in the last quarter. Reston Wealth Management LLC acquired a new position in shares of AT&T during the 3rd quarter worth approximately $35,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of AT&T during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on T. Scotiabank cut AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. Oppenheimer boosted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.40.

AT&T Trading Up 0.8 %

Shares of T traded up $0.19 during midday trading on Friday, hitting $23.17. 23,657,697 shares of the stock were exchanged, compared to its average volume of 35,294,508. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market cap of $166.25 billion, a P/E ratio of 18.72, a P/E/G ratio of 3.41 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.29. The stock has a fifty day simple moving average of $21.99 and a 200 day simple moving average of $19.88.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business's revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T's dividend payout ratio is presently 90.24%.

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.