Dakota Wealth Management Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Dakota Wealth Management trimmed its position in AT&T Inc. (NYSE:T) by 1.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 69,217 shares of the technology company’s stock after selling 1,181 shares during the period. Dakota Wealth Management’s holdings in AT&T were worth $1,523,000 as of its most recent SEC filing.

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

AT&T Stock Performance

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. 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 $156.52 billion, a PE ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The firm’s 50-day moving average price is $21.20 and its 200-day moving average price is $19.13.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.08%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.40.

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.