Glenmede Trust Co. NA Sells 71,128 Shares of AT&T Inc. (NYSE:T)

Glenmede Trust Co. NA trimmed its stake in AT&T Inc. (NYSE:T) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,208,117 shares of the technology company’s stock after selling 71,128 shares during the period. Glenmede Trust Co. NA’s holdings in AT&T were worth $26,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Strategic Financial Concepts LLC raised its position in AT&T by 227.6% in the 2nd 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. raised its holdings in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. American Capital Advisory LLC boosted its holdings in AT&T by 107.5% during the 2nd 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. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter valued at $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.8 %

T stock opened at $23.27 on Thursday. The firm’s fifty day moving average is $22.10 and its 200 day moving average is $20.07. The firm has a market cap of $166.97 billion, a PE ratio of 18.92, a P/E/G ratio of 3.47 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.77%. AT&T’s payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research analyst reports. Oppenheimer lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

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.