Dakota Wealth Management Sells 1,181 Shares of AT&T Inc. (NYSE:T)

Dakota Wealth Management reduced its stake in AT&T Inc. (NYSE:T) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 69,217 shares of the technology company’s stock after selling 1,181 shares during the quarter. Dakota Wealth Management’s holdings in AT&T were worth $1,523,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. apricus wealth LLC increased its stake in AT&T by 4.3% in the 3rd quarter. apricus wealth LLC now owns 78,685 shares of the technology company’s stock worth $1,731,000 after acquiring an additional 3,265 shares during the last quarter. Global Trust Asset Management LLC increased its position in AT&T by 28.1% in the third quarter. Global Trust Asset Management LLC now owns 3,900 shares of the technology company’s stock worth $86,000 after purchasing an additional 855 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in AT&T by 1.3% during the third quarter. Assenagon Asset Management S.A. now owns 310,190 shares of the technology company’s stock valued at $6,824,000 after purchasing an additional 3,972 shares in the last quarter. IFM Investors Pty Ltd lifted its position in AT&T by 2.9% during the third quarter. IFM Investors Pty Ltd now owns 1,498,960 shares of the technology company’s stock valued at $32,977,000 after purchasing an additional 42,519 shares during the last quarter. Finally, Grimes & Company Inc. grew its stake in shares of AT&T by 7.2% in the 3rd quarter. Grimes & Company Inc. now owns 33,530 shares of the technology company’s stock worth $738,000 after buying an additional 2,245 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.7 %

Shares of NYSE T opened at $21.83 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 business has a fifty day simple moving average of $21.20 and a two-hundred day simple moving average of $19.13. The firm has a market cap of $156.52 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Ratings Changes

A number of brokerages recently commented on T. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.