Seminole Management Co. Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 80.8% during the third quarter, Holdings Channel reports. The fund owned 274,263 shares of the company’s stock after selling 1,153,760 shares during the period. AT&T makes up 1.9% of Seminole Management Co. Inc.’s holdings, making the stock its 19th largest position. Seminole Management Co. Inc.’s holdings in AT&T were worth $11,138,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Wealthsource Partners LLC bought a new stake in shares of AT&T during the first quarter worth $1,060,000. Envestnet Asset Management Inc. increased its stake in shares of AT&T by 11.8% in the first quarter. Envestnet Asset Management Inc. now owns 1,170,627 shares of the company’s stock worth $45,853,000 after buying an additional 123,132 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of AT&T by 11.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,379,730 shares of the company’s stock worth $54,044,000 after buying an additional 145,620 shares during the last quarter. EFG Asset Management Americas Corp. increased 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 last quarter. Finally, Clark Capital Management Group Inc. increased 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 last quarter. 52.95% of the stock is currently owned by institutional investors.

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

AT&T Inc. (NYSE:T) traded down 0.063% during trading on Tuesday, reaching $39.515. The company’s stock had a trading volume of 9,763,650 shares. The company has a 50 day moving average price of $37.69 and a 200-day moving average price of $40.25. The company has a market capitalization of $242.66 billion, a PE ratio of 16.808 and a beta of 0.35. AT&T Inc. has a 52 week low of $33.01 and a 52 week high of $43.89.

The company 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. This represents a $1.92 annualized dividend and a yield of 4.90%. The ex-dividend date was Wednesday, October 5th. AT&T’s payout ratio is currently 81.70%.

TRADEMARK VIOLATION WARNING: “Seminole Management Co. Inc. Cuts Position in AT&T Inc. (T)” was first published by Daily Political and is the propert of of Daily Political. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this piece can be accessed at http://www.dailypolitical.com/2016/11/29/seminole-management-co-inc-cuts-position-in-att-inc-t.html.

T has been the subject of several recent analyst reports. Nomura reissued a “buy” rating and issued a $46.00 price target on shares of AT&T in a report on Wednesday, October 12th. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price target on shares of AT&T in a report on Tuesday, October 11th. Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a report on Thursday, October 6th. Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $41.50 price target for the company in a report on Tuesday, October 4th. Finally, Jefferies Group reissued a “buy” rating and issued a $48.00 price target on shares of AT&T in a report on Thursday, September 15th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus price target of $41.24.

In other news, Director Geoffrey Y. Yang acquired 27,129 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was purchased at an average cost of $36.91 per share, with a total value of $1,001,331.39. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.07% of the stock is 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.

5 Day Chart for NYSE:T

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with MarketBeat.com's FREE daily email newsletter.