AT&T Inc. $T Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in AT&T Inc. by 19.8%, now holding 2,286,989 shares valued at approximately $64.68 million.
• Analysts have generally increased their price targets for AT&T, with Raymond James setting a target at $31.00 and Morgan Stanley at $32.00, reflecting positive sentiment about the stock.
• AT&T reported a quarterly earnings of $0.54 per share, beating estimates, with total revenue of $30.85 billion, marking a 3.4% increase compared to the same quarter last year.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of AT&T Inc. (NYSE:T - Free Report) by 19.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,286,989 shares of the technology company's stock after selling 563,498 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in AT&T were worth $64,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Brighton Jones LLC lifted its position in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $213,000. Coppell Advisory Solutions LLC lifted its position in shares of AT&T by 79.2% during the 4th quarter. Coppell Advisory Solutions LLC now owns 6,886 shares of the technology company's stock worth $156,000 after buying an additional 3,044 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of AT&T by 3.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 274,248 shares of the technology company's stock worth $6,245,000 after buying an additional 9,498 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of AT&T by 2.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 582,923 shares of the technology company's stock worth $13,273,000 after buying an additional 13,680 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Scotiabank raised their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Finally, Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.21.

AT&T Stock Performance

Shares of T opened at $28.7290 on Friday. The company has a 50-day simple moving average of $27.99 and a 200-day simple moving average of $27.36. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $205.42 billion, a PE ratio of 16.32, a P/E/G ratio of 3.64 and a beta of 0.42. AT&T Inc. has a 52-week low of $19.51 and a 52-week high of $29.65.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 10.29% and a return on equity of 13.36%. The business's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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 $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio 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.

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