Perkins Capital Management Inc. Reduces Position in AT&T Inc. (NYSE:T)

Perkins Capital Management Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,742 shares of the technology company’s stock after selling 5,134 shares during the period. Perkins Capital Management Inc.’s holdings in AT&T were worth $742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Davidson Kempner Capital Management LP acquired a new stake in AT&T during the second quarter worth approximately $23,888,000. Talbot Financial LLC acquired a new stake in AT&T during the 3rd quarter worth $7,438,000. Mackenzie Financial Corp lifted its position in 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 during the last quarter. DRW Securities LLC grew its holdings in shares of AT&T by 642.2% during the second 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 grew its holdings in shares of AT&T by 4.3% during the second 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 during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $22.32 on Thursday. The firm has a market cap of $160.15 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average is $21.61 and its two-hundred day moving average is $19.46.

AT&T (NYSE:T) last released its 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. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm 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 EPS. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.22 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on T shares. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Oppenheimer upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.