Gulf International Bank UK Ltd Has $11.73 Million Stock Position in AT&T Inc. (NYSE:T)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in AT&T by 24.1%, now owning 414,658 shares worth approximately $11.7 million.
• AT&T recently posted quarterly earnings of $0.54 EPS, exceeding the consensus estimate, along with a revenue of $30.85 billion.
• Analysts have a consensus rating of "Moderate Buy" for AT&T, with an average price target of $29.66.

Gulf International Bank UK Ltd trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 24.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 414,658 shares of the technology company's stock after selling 131,741 shares during the quarter. Gulf International Bank UK Ltd's holdings in AT&T were worth $11,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Stone House Investment Management LLC purchased a new stake in AT&T during the first quarter valued at about $25,000. Hager Investment Management Services LLC lifted its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in AT&T during the first quarter valued at about $29,000. Core Alternative Capital lifted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after buying an additional 568 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in AT&T during the fourth quarter valued at about $25,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Tigress Financial increased their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. UBS Group reissued a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $29.66.

AT&T Stock Up 1.3%

NYSE:T traded up $0.36 during mid-day trading on Thursday, reaching $28.76. The stock had a trading volume of 24,523,413 shares, compared to its average volume of 37,456,629. The business's 50 day moving average is $27.87 and its 200 day moving average is $27.13. AT&T Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $29.19. The stock has a market cap of $205.61 billion, a P/E ratio of 16.34, a PEG ratio of 3.53 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS 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 for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. AT&T's dividend payout ratio (DPR) is presently 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.