AT&T Inc. (NYSE:T) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lowered its position in AT&T Inc. (NYSE:T) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,959 shares of the technology company’s stock after selling 1,533 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in AT&T were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its position in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC boosted its position in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. boosted its holdings in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in AT&T in the second quarter worth approximately $78,570,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $21.51 on Wednesday. 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 stock’s 50 day moving average price is $21.03 and its two-hundred day moving average price is $19.04. The firm has a market capitalization of $154.23 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is presently 63.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on T shares. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Oppenheimer raised their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Finally, Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Company 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.