Folger Nolan Fleming Douglas Capital Management Inc. Has $385,000 Position in AT&T Inc. (NYSE:T)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 16.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,487 shares of the technology company’s stock after selling 3,396 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in AT&T were worth $385,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. increased its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC boosted its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter valued at $30,000. Marquette Asset Management LLC bought a new stake in shares of AT&T during the third quarter worth $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Moffett Nathanson raised their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Evercore ISI increased their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Oppenheimer lifted their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

NYSE:T opened at $22.01 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.25 and a 12-month high of $22.58. The stock’s 50 day moving average price is $21.36 and its two-hundred day moving average price is $19.25. The firm has a market capitalization of $157.82 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 business posted $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.04%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.