AT&T Inc. $T Shares Sold by Brookstone Capital Management

Brookstone Capital Management lessened its holdings in shares of AT&T Inc. (NYSE:T) by 3.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 642,907 shares of the technology company’s stock after selling 21,545 shares during the quarter. Brookstone Capital Management’s holdings in AT&T were worth $18,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after buying an additional 10,310,560 shares in the last quarter. State Street Corp increased its stake in shares of AT&T by 2.4% during the second quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock valued at $9,291,781,000 after acquiring an additional 7,404,376 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T during the second quarter valued at approximately $5,266,758,000. Geode Capital Management LLC lifted its position in AT&T by 1.2% in the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock worth $4,958,066,000 after purchasing an additional 2,066,026 shares during the period. Finally, Norges Bank acquired a new stake in AT&T in the second quarter worth approximately $2,228,655,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of AT&T in a report on Monday. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Williams Trading set a $33.00 price objective on shares of AT&T in a research report on Thursday, October 23rd. The Goldman Sachs Group dropped their target price on shares of AT&T from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Finally, Royal Bank Of Canada cut their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $30.24.

AT&T Stock Performance

AT&T stock opened at $24.60 on Thursday. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The firm’s 50 day simple moving average is $25.13 and its 200-day simple moving average is $27.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market cap of $174.40 billion, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 1.43 and a beta of 0.38.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio is currently 36.04%.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.