AT&T Inc. (NYSE:T) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New cut its holdings in AT&T Inc. (NYSE:T) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,856 shares of the technology company’s stock after selling 659 shares during the period. Cigna Investments Inc. New’s holdings in AT&T were worth $1,625,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Davidson Kempner Capital Management LP purchased a new stake in AT&T in the second quarter valued at $23,888,000. Talbot Financial LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at about $7,438,000. Mackenzie Financial Corp lifted its holdings in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the last quarter. DRW Securities LLC boosted its position in shares of AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after buying an additional 43,062 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 2.3 %

NYSE:T opened at $22.53 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 1 year low of $15.25 and a 1 year high of $22.59. The stock has a market capitalization of $161.62 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 3.31 and a beta of 0.60. The stock has a fifty day moving average price of $21.42 and a two-hundred day moving average price of $19.27.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Barclays upped their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Company 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.