Caisse DE Depot ET Placement DU Quebec Sells 2,522,996 Shares of AT&T Inc. (NYSE:T)

Caisse DE Depot ET Placement DU Quebec lessened its holdings in shares of AT&T Inc. (NYSE:T) by 18.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,413,042 shares of the technology company’s stock after selling 2,522,996 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in AT&T were worth $251,087,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Davidson Kempner Capital Management LP bought a new position in AT&T in the second quarter worth $23,888,000. Swiss National Bank boosted its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Caprock Group LLC increased its holdings in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares in the last quarter. Talbot Financial LLC bought a new position in shares of AT&T in the third quarter valued at approximately $7,438,000. Finally, Mackenzie Financial Corp boosted 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 worth $50,486,000 after acquiring an additional 288,093 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.5 %

AT&T stock opened at $23.16 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company’s 50-day moving average is $22.17 and its 200-day moving average is $20.13. The firm has a market capitalization of $166.18 billion, a PE ratio of 18.83, a P/E/G ratio of 3.49 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.38.

AT&T (NYSE:T) last released its quarterly earnings data 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 return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.79%. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several equities analysts have issued reports on T shares. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Evercore ISI lifted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Finally, Barclays lifted their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

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.