AT&T Inc. $T Shares Sold by AHL Investment Management Inc.

Key Points

• AHL Investment Management Inc. has reduced its stake in AT&T Inc. by 33.9%, holding 45,480 shares worth approximately $1.32 million after selling 23,346 shares in the second quarter.
• AT&T reported a quarterly earnings per share (EPS) of $0.54 for the last quarter, beating the consensus estimate by $0.01, and revenue of $30.85 billion, which exceeded analyst forecasts.
• Despite various institutional investments, AT&T's stock has received mixed ratings from analysts, with prices targets ranging from $30 to $33 and an average rating of "Moderate Buy."

AHL Investment Management Inc. cut its position in AT&T Inc. (NYSE:T - Free Report) by 33.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,480 shares of the technology company's stock after selling 23,346 shares during the period. AHL Investment Management Inc.'s holdings in AT&T were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Financial Strategies LLC raised its stake in AT&T by 21.0% in the second quarter. Legacy Financial Strategies LLC now owns 10,307 shares of the technology company's stock valued at $298,000 after buying an additional 1,789 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. increased its position in shares of AT&T by 4.9% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,454 shares of the technology company's stock worth $723,000 after purchasing an additional 1,178 shares in the last quarter. Trust Point Inc. increased its position in shares of AT&T by 3.0% during the second quarter. Trust Point Inc. now owns 44,879 shares of the technology company's stock worth $1,299,000 after purchasing an additional 1,314 shares in the last quarter. Hurlow Wealth Management Group Inc. acquired a new stake in shares of AT&T during the second quarter worth about $201,000. Finally, Moody National Bank Trust Division increased its position in shares of AT&T by 33.5% during the second quarter. Moody National Bank Trust Division now owns 57,954 shares of the technology company's stock worth $1,677,000 after purchasing an additional 14,552 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research report on Thursday, July 24th. Finally, Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

AT&T Stock Down 0.5%

NYSE:T traded down $0.16 on Friday, reaching $29.04. The stock had a trading volume of 62,059,787 shares, compared to its average volume of 28,068,662. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $28.45 and a 200 day moving average of $27.81. The stock has a market cap of $207.65 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T's dividend payout ratio is 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.