Ingalls & Snyder LLC Sells 4,636 Shares of AT&T Inc. $T

Ingalls & Snyder LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,805 shares of the technology company’s stock after selling 4,636 shares during the quarter. Ingalls & Snyder LLC’s holdings in AT&T were worth $3,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stone House Investment Management LLC bought a new stake in shares of AT&T in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T in the 2nd quarter worth approximately $26,000. Hager Investment Management Services LLC raised its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the period. Kennebec Savings Bank lifted its position in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the last quarter. Finally, Core Alternative Capital increased its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

T has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Barclays reduced their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Royal Bank Of Canada reduced their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Trading Up 2.2%

NYSE:T opened at $25.17 on Friday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The stock has a market cap of $179.95 billion, a P/E ratio of 8.17, a P/E/G ratio of 2.04 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a 50-day simple moving average of $27.97 and a 200-day simple moving average of $27.76.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.