Vista Investment Partners LLC Sells 1,955 Shares of AT&T Inc. (NYSE:T)

Vista Investment Partners LLC trimmed its position in AT&T Inc. (NYSE:T) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,053 shares of the technology company’s stock after selling 1,955 shares during the quarter. Vista Investment Partners LLC’s holdings in AT&T were worth $2,069,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in T. Davidson Kempner Capital Management LP bought a new stake in shares of AT&T in the 2nd quarter worth about $23,888,000. Talbot Financial LLC bought a new stake in AT&T during the third quarter worth approximately $7,438,000. Mackenzie Financial Corp raised its position in AT&T by 12.2% during the second 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 period. DRW Securities LLC raised its position in AT&T by 642.2% during the second 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 boosted its holdings in shares of AT&T by 4.3% in 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 purchasing an additional 43,062 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $21.74 on Friday. The firm has a 50 day moving average of $20.90 and a 200 day moving average of $18.93. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $155.84 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. AT&T Inc. has a 52 week low of $14.31 and a 52 week high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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 issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several analysts recently weighed in on T shares. TD Cowen increased their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T 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.