AT&T Inc. (NYSE:T) Shares Sold by Gilbert & Cook Inc.

Gilbert & Cook Inc. lessened its stake in AT&T Inc. (NYSE:T) by 8.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 33,040 shares of the technology company’s stock after selling 2,931 shares during the period. Gilbert & Cook Inc.’s holdings in AT&T were worth $727,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP acquired a new position in shares of AT&T in the second quarter worth $23,888,000. Talbot Financial LLC acquired a new position in shares of AT&T in the third quarter worth $7,438,000. Mackenzie Financial Corp grew its stake in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares in the last quarter. DRW Securities LLC grew its stake in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of AT&T by 7.2% in the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock worth $8,928,000 after acquiring an additional 26,706 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on T shares. TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company lowered their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Price Performance

Shares of NYSE:T opened at $22.68 on Friday. The company has a 50-day simple moving average of $21.89 and a 200-day simple moving average of $19.73. AT&T Inc. has a one year low of $15.75 and a one year high of $22.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of $162.74 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s payout ratio is 90.24%.

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.