AT&T Inc. (NYSE:T) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC trimmed its position in AT&T Inc. (NYSE:T) by 5.4% in the third quarter, Holdings Channel reports. The firm owned 37,279 shares of the technology company’s stock after selling 2,114 shares during the quarter. Anchor Investment Management LLC’s holdings in AT&T were worth $820,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC grew its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in AT&T in the third quarter worth about $25,000. Riggs Asset Managment Co. Inc. lifted its holdings in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC lifted its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T opened at $23.36 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market cap of $167.61 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 3.57 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock’s 50 day moving average price is $22.44 and its 200 day moving average price is $20.49.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm 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%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.75%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Wells Fargo & Company cut their target price 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. Sanford C. Bernstein began coverage on AT&T in a report on Tuesday. They set an “outperform” rating and a $28.00 price target on the stock. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

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.