Diversified Trust Co Trims Holdings in AT&T Inc. $T

Key Points

• Diversified Trust Co reduced its holdings in AT&T Inc. by 9.8%, now owning 173,893 shares valued at approximately $5.03 million.
• Analysts have a consensus rating of "Moderate Buy" for AT&T with an average price target of $30.74, while some firms raised their target prices to as high as $32.00.
• AT&T recently announced a quarterly dividend of $0.2775 per share, yielding about 3.8% annually, reflecting its 63.07% payout ratio.

Diversified Trust Co trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,893 shares of the technology company's stock after selling 18,990 shares during the period. Diversified Trust Co's holdings in AT&T were worth $5,032,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the second quarter worth about $5,266,758,000. Nuveen LLC bought a new stake in AT&T in the first quarter valued at approximately $1,072,128,000. GQG Partners LLC increased its stake 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 worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board increased its stake 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 worth $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP increased its stake 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 worth $321,372,000 after purchasing an additional 8,841,126 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of AT&T stock traded down $0.16 during trading on Friday, hitting $29.04. 62,059,787 shares of the company's stock were exchanged, compared to its average volume of 28,068,662. The stock has a market capitalization of $207.65 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. 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 has a 50-day simple moving average of $28.45 and a 200-day simple moving average of $27.82. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

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 the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on T shares. JPMorgan Chase & Co. increased their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. 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 price target on the stock. Wells Fargo & Company increased their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $30.74.

AT&T Company Profile

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.