Callahan Advisors LLC Sells 35,727 Shares of AT&T Inc. $T

Callahan Advisors LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,211 shares of the technology company’s stock after selling 35,727 shares during the period. Callahan Advisors LLC’s holdings in AT&T were worth $6,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. J. L. Bainbridge & Co. Inc. raised its stake in shares of AT&T by 1.7% in the second quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock worth $615,000 after purchasing an additional 355 shares during the last quarter. Financial & Tax Architects LLC increased its holdings in AT&T by 4.9% in the 2nd quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock worth $220,000 after buying an additional 356 shares in the last quarter. Roberts Glore & Co. Inc. IL raised its position in AT&T by 2.0% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after buying an additional 357 shares during the last quarter. Investment Partners LTD. lifted its stake in AT&T by 3.5% during the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after acquiring an additional 357 shares during the period. Finally, Parcion Private Wealth LLC lifted its stake in AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after acquiring an additional 364 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on T shares. Williams Trading set a $33.00 price target on shares of AT&T in a research note on Thursday, October 23rd. Royal Bank Of Canada decreased their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Barclays lowered their price target on AT&T from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Loop Capital set a $29.00 price target on AT&T in a research note on Friday, December 19th. Finally, TD Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

AT&T Trading Down 0.1%

Shares of T stock opened at $23.56 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market cap of $166.99 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.29 and a beta of 0.39. AT&T Inc. has a 1 year low of $22.54 and a 1 year high of $29.79. The firm has a fifty day moving average price of $24.62 and a 200-day moving average price of $26.42.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.7%. AT&T’s dividend payout ratio is presently 36.04%.

About AT&T

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.