AT&T Inc. (NYSE:T) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,709 shares of the technology company’s stock after selling 2,863 shares during the quarter. Grimes & Company Inc.’s holdings in AT&T were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Natixis Advisors L.P. increased its stake in AT&T by 1.6% in the third quarter. Natixis Advisors L.P. now owns 740,864 shares of the technology company’s stock valued at $11,128,000 after purchasing an additional 11,844 shares during the period. Morningstar Investment Services LLC acquired a new position in shares of AT&T during the third quarter worth about $241,000. Caxton Associates LP purchased a new position in AT&T during the third quarter worth about $249,000. United Services Automobile Association lifted its position in AT&T by 16.0% in the third quarter. United Services Automobile Association now owns 186,854 shares of the technology company’s stock valued at $2,807,000 after purchasing an additional 25,821 shares during the period. Finally, Logan Capital Management Inc. lifted its position in AT&T by 14.6% in the third quarter. Logan Capital Management Inc. now owns 987,393 shares of the technology company’s stock valued at $14,831,000 after purchasing an additional 125,672 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

T stock opened at $19.11 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock’s 50 day moving average price is $17.57 and its 200 day moving average price is $17.18. The firm has a market cap of $137.02 billion, a P/E ratio of 10.27, a PEG ratio of 4.34 and a beta of 0.60. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.13.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on T. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Oppenheimer reiterated an “outperform” rating and issued a $21.00 price objective on shares of AT&T in a research report on Tuesday, June 25th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and ten have assigned a 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 $21.71.

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.