AT&T Inc. $T Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in AT&T Inc. by 4.1%, selling 14,000 shares and retaining 325,400 shares valued at approximately $9.2 million.
• Analysts have mixed views on AT&T's stock, with HSBC Global Research downgrading it from "strong-buy" to "hold," while others, including Bank of America and JPMorgan, maintain "buy" ratings with target prices ranging from $31.00 to $33.00.
• AT&T reported Q2 earnings of $0.54 per share, exceeding expectations by $0.01, and announced a quarterly dividend of $0.2775 per share, equating to an annual yield of 3.8%.

Gabelli Funds LLC trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 325,400 shares of the technology company's stock after selling 14,000 shares during the quarter. Gabelli Funds LLC's holdings in AT&T were worth $9,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of T. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the 4th quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC boosted its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T traded up $0.35 during midday trading on Friday, hitting $29.29. The company had a trading volume of 26,535,515 shares, compared to its average volume of 29,711,526. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a twelve month low of $19.62 and a twelve month high of $29.65. The business has a 50-day simple moving average of $28.11 and a two-hundred day simple moving average of $27.51. The firm has a market capitalization of $209.43 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 3.58 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company 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 firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on T. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Bank of America began 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. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

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.