BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stock Position in AT&T Inc. (NYSE:T)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its position in AT&T Inc. (NYSE:T) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,614,449 shares of the technology company’s stock after selling 29,207 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in AT&T were worth $35,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Riggs Asset Managment Co. Inc. boosted its position in AT&T by 356.5% during 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. American Capital Advisory LLC boosted its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in AT&T in the 3rd quarter valued at about $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in AT&T in the second quarter valued at approximately $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Trading Up 0.8 %

NYSE T opened at $23.18 on Friday. The company has a market capitalization of $166.29 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.29. The company’s fifty day moving average price is $22.02 and its two-hundred day moving average price is $19.92.

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

AT&T Announces Dividend

The company also recently declared 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 4.79%. AT&T’s dividend payout ratio (DPR) 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.