Boston Financial Mangement LLC Cuts Position in AT&T Inc. (NYSE:T)

Boston Financial Mangement LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,722 shares of the technology company’s stock after selling 792 shares during the period. Boston Financial Mangement LLC’s holdings in AT&T were worth $258,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP acquired a new position in AT&T during the second quarter worth $23,888,000. Talbot Financial LLC acquired a new stake in shares of AT&T in the third quarter valued at $7,438,000. Mackenzie Financial Corp raised its stake in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares in the last quarter. DRW Securities LLC raised its stake in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Tigress Financial increased their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Performance

Shares of T stock opened at $22.18 on Wednesday. The stock’s 50-day moving average is $21.31 and its two-hundred day moving average is $19.23. The firm has a market cap of $159.04 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 3.74 and a beta of 0.60. AT&T Inc. has a 1 year low of $14.91 and a 1 year high of $22.58. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. AT&T’s dividend payout ratio (DPR) is 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.