D.A. Davidson & CO. Sells 38,847 Shares of AT&T Inc. $T

D.A. Davidson & CO. lowered its stake in AT&T Inc. (NYSE:T) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 400,171 shares of the technology company’s stock after selling 38,847 shares during the quarter. D.A. Davidson & CO.’s holdings in AT&T were worth $11,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Front Row Advisors LLC bought a new stake in AT&T in the 2nd quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in AT&T during the 2nd quarter worth about $26,000. Solstein Capital LLC raised its stake in shares of 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 period. Kennebec Savings Bank raised its stake in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Finally, Curio Wealth LLC lifted its holdings in shares of AT&T by 26,100.0% in the second 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.

AT&T Price Performance

Shares of T opened at $24.71 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $24.98 and its 200 day simple moving average is $26.88. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The company has a market cap of $175.14 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.31 and a beta of 0.39.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is 36.04%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on T. Loop Capital set a $29.00 price objective on AT&T in a report on Friday, December 19th. Wells Fargo & Company reduced their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AT&T in a research note on Monday, December 29th. TD Cowen boosted their price objective on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Finally, Williams Trading set a $33.00 target price on shares of AT&T in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.24.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.