Dorsey & Whitney Trust CO LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 23.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 36,849 shares of the technology company’s stock after selling 11,420 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in AT&T were worth $1,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Barings LLC increased its position in shares of AT&T by 19.8% in the third quarter. Barings LLC now owns 414,097 shares of the technology company’s stock worth $16,220,000 after purchasing an additional 68,300 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of AT&T by 11.2% in the third quarter. Commonwealth Bank of Australia now owns 1,047,018 shares of the technology company’s stock worth $41,007,000 after purchasing an additional 105,120 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of AT&T by 40.3% in the third quarter. Jupiter Asset Management Ltd. now owns 305,942 shares of the technology company’s stock worth $11,984,000 after purchasing an additional 87,900 shares during the last quarter. Grove Bank & Trust increased its position in shares of AT&T by 4.2% in the third quarter. Grove Bank & Trust now owns 69,145 shares of the technology company’s stock worth $2,707,000 after purchasing an additional 2,814 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its position in shares of AT&T by 2.8% in the third quarter. Ropes Wealth Advisors LLC now owns 68,490 shares of the technology company’s stock worth $2,683,000 after purchasing an additional 1,834 shares during the last quarter. Hedge funds and other institutional investors own 55.39% of the company’s stock.

In related news, EVP John T. Stankey sold 2,307 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $39.21, for a total value of $90,457.47. Following the completion of the sale, the executive vice president now owns 51,672 shares of the company’s stock, valued at $2,026,059.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Donovan purchased 27,997 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $35.68 per share, with a total value of $998,932.96. Following the purchase, the chief executive officer now directly owns 179,834 shares of the company’s stock, valued at $6,416,477.12. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

T has been the subject of several research reports. Jefferies Group reaffirmed a “buy” rating and issued a $36.38 target price (down previously from $48.00) on shares of AT&T in a research note on Friday, December 1st. Zacks Investment Research lowered AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. ValuEngine lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank cut their target price on AT&T from $41.00 to $38.00 and set a “hold” rating for the company in a research note on Wednesday, October 25th. Finally, SunTrust Banks upped their target price on AT&T from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.92.

Shares of AT&T Inc. (T) opened at $36.41 on Thursday. The firm has a market capitalization of $223,520.00, a P/E ratio of 22.48, a PEG ratio of 2.51 and a beta of 0.37. AT&T Inc. has a 52 week low of $32.55 and a 52 week high of $42.70. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.60 and a current ratio of 0.97.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.13. The firm had revenue of $41.68 billion during the quarter, compared to analyst estimates of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. sell-side analysts forecast that AT&T Inc. will post 3.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend was Tuesday, January 9th. This is a positive change from AT&T’s previous quarterly dividend of $0.49. AT&T’s dividend payout ratio is 123.46%.

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AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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