AT&T Inc. (NYSE:T) Shares Sold by KLCM Advisors Inc.

Key Points

• KLCM Advisors Inc. significantly reduced its stake in AT&T by 92.9%, selling 805,311 shares and now holding only 61,725 shares valued at $1,746,000.
• AT&T reported a 3.4% increase in revenue year over year, with EPS of $0.54 for the latest quarter, beating estimates.
• The company recently declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend of $1.11 and a yield of 3.9%.

KLCM Advisors Inc. cut its stake in AT&T Inc. (NYSE:T - Free Report) by 92.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,725 shares of the technology company's stock after selling 805,311 shares during the period. KLCM Advisors Inc.'s holdings in AT&T were worth $1,746,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Inspire Trust Co. N.A. lifted its stake in AT&T by 10.0% during the first quarter. Inspire Trust Co. N.A. now owns 165,000 shares of the technology company's stock worth $4,666,000 after purchasing an additional 15,000 shares during the last quarter. OneAscent Investment Solutions LLC bought a new stake in AT&T during the first quarter valued at $438,000. Vestmark Advisory Solutions Inc. raised its holdings in shares of AT&T by 150.6% during the first quarter. Vestmark Advisory Solutions Inc. now owns 43,914 shares of the technology company's stock worth $1,242,000 after purchasing an additional 26,388 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of AT&T by 0.7% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,519,470 shares of the technology company's stock worth $42,971,000 after buying an additional 10,100 shares during the last quarter. Finally, William B. Walkup & Associates Inc. boosted its holdings in shares of AT&T by 3.0% in the 1st quarter. William B. Walkup & Associates Inc. now owns 35,488 shares of the technology company's stock valued at $1,004,000 after buying an additional 1,019 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

NYSE T opened at $28.40 on Thursday. The stock has a market capitalization of $203.07 billion, a P/E ratio of 16.14, a P/E/G ratio of 3.53 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The business's fifty day moving average is $27.87 and its two-hundred day moving average is $27.13. AT&T Inc. has a 1 year low of $18.97 and a 1 year high of $29.19.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is 63.07%.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent research reports. Tigress Financial raised their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. UBS Group restated a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price on the stock. Finally, Scotiabank boosted their price target on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and an average price target of $29.66.

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.

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