AT&T Inc. (NYSE:T) Shares Sold by Brighton Jones LLC

Brighton Jones LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 19.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,391 shares of the technology company’s stock after selling 9,127 shares during the quarter. Brighton Jones LLC’s holdings in AT&T were worth $845,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in T. Riggs Asset Managment Co. Inc. lifted its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its holdings in 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 purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T in the second quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new stake in AT&T during the third quarter worth approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the topic of several research analyst reports. Oppenheimer lifted their price target on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday. Tigress Financial boosted their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research note on Thursday. Finally, Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

Shares of NYSE:T opened at $22.19 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $21.09 and a 200 day moving average price of $19.06. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.58. The company has a market cap of $159.11 billion, a P/E ratio of 12.75, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 63.79%.

AT&T 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.