Chapin Davis Inc. Reduces Holdings in AT&T Inc. $T

Chapin Davis Inc. lowered its stake in AT&T Inc. (NYSE:T) by 73.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,009 shares of the technology company’s stock after selling 123,172 shares during the quarter. Chapin Davis Inc.’s holdings in AT&T were worth $1,243,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Front Row Advisors LLC acquired a new position in shares of AT&T in the second quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T during the 2nd quarter worth about $26,000. Kennebec Savings Bank increased its position in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares in the last quarter. Solstein Capital LLC raised its stake in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Finally, Curio Wealth LLC lifted its holdings in AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,044 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Tuesday, November 11th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Royal Bank Of Canada lowered their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Finally, TD Cowen upped their target price on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $30.55.

AT&T Stock Down 0.5%

Shares of NYSE T opened at $24.24 on Friday. The stock has a market capitalization of $171.85 billion, a PE ratio of 7.87, a P/E/G ratio of 1.43 and a beta of 0.38. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The firm has a fifty day moving average of $25.26 and a 200-day moving average of $27.17. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be issued a dividend of $0.2775 per share. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. AT&T’s payout ratio is presently 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.