Bank of Montreal Can Sells 1,542,949 Shares of AT&T Inc. (NYSE:T)

Bank of Montreal Can trimmed its position in shares of AT&T Inc. (NYSE:T) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,242,879 shares of the technology company’s stock after selling 1,542,949 shares during the period. Bank of Montreal Can owned 0.21% of AT&T worth $333,819,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. 1832 Asset Management L.P. boosted its stake in AT&T by 70.1% during the first quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock valued at $42,000 after buying an additional 979 shares during the last quarter. Mount Yale Investment Advisors LLC increased its position in AT&T by 5.7% in the first quarter. Mount Yale Investment Advisors LLC now owns 31,387 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,687 shares during the last quarter. Caxton Associates LP raised its stake in AT&T by 207.6% during the first quarter. Caxton Associates LP now owns 51,025 shares of the technology company’s stock valued at $898,000 after purchasing an additional 34,437 shares in the last quarter. Waverly Advisors LLC lifted its position in AT&T by 30.2% during the first quarter. Waverly Advisors LLC now owns 279,283 shares of the technology company’s stock valued at $4,915,000 after purchasing an additional 64,804 shares during the last quarter. Finally, Invenomic Capital Management LP grew its stake in shares of AT&T by 2.7% in the 1st quarter. Invenomic Capital Management LP now owns 2,526,822 shares of the technology company’s stock worth $44,472,000 after buying an additional 66,913 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on T. Barclays upped their price objective on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Down 0.1 %

AT&T stock traded down $0.02 during midday trading on Monday, hitting $23.16. 4,319,306 shares of the company’s stock were exchanged, compared to its average volume of 35,211,613. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.32. 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 company has a market cap of $166.18 billion, a PE ratio of 18.85, a P/E/G ratio of 3.48 and a beta of 0.59. The firm has a 50-day moving average of $22.02 and a two-hundred day moving average of $19.96.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

About AT&T

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.