AT&T Inc. (NYSE:T) Stake Decreased by Toronto Dominion Bank

Toronto Dominion Bank trimmed its holdings in AT&T Inc. (NYSE:T) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,521,978 shares of the technology company’s stock after selling 468,971 shares during the quarter. Toronto Dominion Bank’s holdings in AT&T were worth $77,484,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC increased its stake in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the third quarter valued at approximately $25,000. Riggs Asset Managment Co. Inc. raised its holdings 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 purchasing an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its position 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 purchasing an additional 841 shares during the period. Finally, American Capital Advisory LLC increased its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.7 %

T opened at $23.53 on Wednesday. The firm has a market cap of $168.80 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. 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 business has a 50 day moving average price of $22.39 and a 200 day moving average price of $20.43. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping 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 previous year, the company earned $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

A number of research analysts recently issued reports on T shares. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer started coverage on AT&T in a research report on Tuesday. They issued an “outperform” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

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.