AT&T Inc. $T Holdings Decreased by PFG Investments LLC

Key Points

• PFG Investments LLC has reduced its holdings in AT&T Inc. by 3.8% in the second quarter, now owning 258,036 shares valued at approximately $7.47 million.
• Several institutional investors have either increased or initiated stakes in AT&T, with Ontario Teachers Pension Plan Board growing its holdings by an impressive 30,527.5% during the first quarter.
• AT&T has announced a quarterly dividend of $0.2775 per share, representing a 3.9% yield, with the dividend payout date set for November 3rd.

PFG Investments LLC decreased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 258,036 shares of the technology company's stock after selling 10,219 shares during the period. PFG Investments LLC's holdings in AT&T were worth $7,468,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T during the second quarter worth about $5,266,758,000. Nuveen LLC acquired a new position in AT&T in the first quarter valued at approximately $1,072,128,000. GQG Partners LLC grew its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock valued at $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Bank of America began coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, Scotiabank upped their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

AT&T Trading Up 0.6%

AT&T stock opened at $28.25 on Wednesday. The firm has a 50 day simple moving average of $28.64 and a 200-day simple moving average of $27.91. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $202.00 billion, a PE ratio of 16.05, 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 (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 analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 3.9%. AT&T's dividend payout ratio (DPR) is currently 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.

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