Courier Capital LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Courier Capital LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 10.9% in the third quarter, HoldingsChannel.com reports. The firm owned 64,512 shares of the technology company’s stock after selling 7,856 shares during the period. Courier Capital LLC’s holdings in AT&T were worth $1,419,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares during the period. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc boosted its position in AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the period. Ameriprise Financial Inc. boosted its position in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the period. Finally, LSV Asset Management boosted its position in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after buying an additional 315,580 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $22.49 on Thursday. The company’s fifty day moving average price is $21.09 and its 200 day moving average price is $19.06. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market capitalization of $161.26 billion, a P/E ratio of 12.93, a P/E/G ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the business earned $0.63 EPS. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 yield of 4.94%. AT&T’s dividend payout ratio is currently 63.79%.

Wall Street Analyst Weigh In

Several brokerages have commented on T. Wells Fargo & Company raised their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Oppenheimer raised their price target on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Barclays raised their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.93.

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.