Raleigh Capital Management Inc. Has $1.78 Million Stock Position in AT&T Inc. (NYSE:T)

Raleigh Capital Management Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,958 shares of the technology company’s stock after selling 14,997 shares during the quarter. Raleigh Capital Management Inc.’s holdings in AT&T were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Davidson Kempner Capital Management LP acquired a new stake in AT&T during the second quarter valued at approximately $23,888,000. Talbot Financial LLC bought a new position in shares of AT&T during the third quarter valued at $7,438,000. Mackenzie Financial Corp boosted its stake in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares in the last quarter. DRW Securities LLC grew its holdings in shares of AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of T stock opened at $21.67 on Tuesday. The firm’s 50 day moving average price is $20.99 and its two-hundred day moving average price is $19.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.34. The stock has a market cap of $155.38 billion, a PE ratio of 12.45, a PEG ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the company earned $0.63 EPS. The firm’s revenue was down .3% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.12%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on T shares. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Barclays increased their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

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.