iA Global Asset Management Inc. Sells 6,656 Shares of AT&T Inc. (NYSE:T)

iA Global Asset Management Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 234,213 shares of the technology company’s stock after selling 6,656 shares during the quarter. iA Global Asset Management Inc.’s holdings in AT&T were worth $5,153,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Strategic Financial Concepts LLC boosted its holdings in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. American Capital Advisory LLC raised its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter valued at $30,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.73.

AT&T Price Performance

Shares of NYSE:T opened at $23.88 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market cap of $171.35 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. The stock’s fifty day simple moving average is $22.36 and its two-hundred day simple moving average is $20.37. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for 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 revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.65%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

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.