SWAN Capital LLC Sells 1,288 Shares of AT&T Inc. (NYSE:T)

SWAN Capital LLC reduced its holdings in AT&T Inc. (NYSE:T) by 9.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,709 shares of the technology company’s stock after selling 1,288 shares during the period. SWAN Capital LLC’s holdings in AT&T were worth $258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. lifted its stake in shares of AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of AT&T in the second quarter valued at $78,570,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Citigroup raised their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer raised their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday. Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.07.

AT&T Price Performance

AT&T stock opened at $23.55 on Thursday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The firm has a market capitalization of $168.94 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 3.56 and a beta of 0.59. The company has a fifty day simple moving average of $22.28 and a 200-day simple moving average of $20.28. 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 (NYSE:T) last announced 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. 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 analyst estimates of $30.50 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 2.22 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. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.71%. AT&T’s dividend payout ratio is presently 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.