Today, Franklin Street Advisors Inc. NC sells partial stakes of AT&T Inc. (T)

Today, Franklin Street Advisors Inc. NC sells partial stakes of AT&T Inc. (T)

Franklin Street Advisors Inc. NC decreased its stake in AT&T Inc. (NYSE:T) by 4.8% during the third quarter, Holdings Channel reports. The institutional investor owned 42,505 shares of the company’s stock after selling 2,165 shares during the period. Franklin Street Advisors Inc. NC’s holdings in AT&T were worth $1,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Steinberg Global Asset Management raised its stake in shares of AT&T by 7.9% in the first quarter. Steinberg Global Asset Management now owns 220,107 shares of the company’s stock worth $8,621,000 after buying an additional 16,063 shares during the period. Natixis raised its stake in shares of AT&T by 13.2% in the first quarter. Natixis now owns 892,203 shares of the company’s stock worth $34,948,000 after buying an additional 104,176 shares during the period. A.R.T. Advisors LLC raised its stake in shares of AT&T by 72.0% in the first quarter. A.R.T. Advisors LLC now owns 245,391 shares of the company’s stock worth $9,611,000 after buying an additional 102,700 shares during the period. Clark Capital Management Group Inc. raised its stake in shares of AT&T by 10.2% in the first quarter. Clark Capital Management Group Inc. now owns 100,582 shares of the company’s stock worth $3,940,000 after buying an additional 9,311 shares during the period. Finally, EFG Asset Management Americas Corp. raised its stake in shares of AT&T by 19.8% in the first quarter. EFG Asset Management Americas Corp. now owns 17,811 shares of the company’s stock worth $717,000 after buying an additional 2,945 shares during the period. Hedge funds and other institutional investors own 52.95% of the company’s stock.

Shares of AT&T Inc. (NYSE:T) traded up 0.84% on Monday, hitting $39.54. 26,656,518 shares of the stock traded hands. AT&T Inc. has a 52 week low of $33.01 and a 52 week high of $43.89. The stock has a 50-day moving average price of $37.69 and a 200 day moving average price of $40.25. The firm has a market cap of $242.82 billion, a P/E ratio of 16.82 and a beta of 0.35.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 10th were paid a $0.48 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 4.90%. AT&T’s dividend payout ratio is 81.70%.

A number of brokerages have recently commented on T. Jefferies Group restated a “buy” rating on shares of AT&T in a report on Wednesday, August 3rd. Vetr raised AT&T from a “sell” rating to a “hold” rating and set a $41.06 target price on the stock in a research report on Tuesday, August 16th. Barclays PLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of AT&T in a research report on Monday, September 26th. HSBC raised AT&T from a “reduce” rating to a “hold” rating and set a $38.00 target price on the stock in a research report on Monday, September 26th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of AT&T in a research report on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $41.24.

In other AT&T news, Director Geoffrey Y. Yang acquired 27,129 shares of AT&T stock in a transaction that occurred on Tuesday, October 25th. The stock was acquired at an average cost of $36.91 per share, for a total transaction of $1,001,331.39. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.

About AT&T

AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.

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