Mn Services Vermogensbeheer B.V. Sells 60,500 Shares of AT&T Inc. (NYSE:T)

Mn Services Vermogensbeheer B.V. trimmed its stake in AT&T Inc. (NYSE:T) by 2.1% during the third quarter, Holdings Channel reports. The fund owned 2,765,700 shares of the technology company’s stock after selling 60,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in AT&T were worth $60,845,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC lifted its position 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 worth $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. boosted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC increased its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T traded down $0.05 on Monday, hitting $22.07. 3,937,652 shares of the company’s stock were exchanged, compared to its average volume of 35,632,574. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $15.46 and a 52 week high of $22.73. The stock has a market cap of $158.36 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59. The stock has a 50-day moving average of $21.47 and a 200-day moving average of $19.36.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analyst Weigh In

Several analysts recently commented on T shares. Barclays boosted their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Company 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.