AT&T Inc. $T Shares Sold by Pensionfund Sabic

Key Points

• Pensionfund Sabic reduced its holdings in AT&T Inc. by 21.1%, selling 24,000 shares and now owning a total of 89,500 shares valued at approximately $2.53 million.
• Analysts are optimistic about AT&T, with multiple firms upgrading their target prices to as much as $33.00, while the consensus rating stands at "Moderate Buy".
• The company announced a quarterly dividend of $0.2775 per share, equating to an annualized yield of 3.8%, with a payout ratio of 63.07%.

Pensionfund Sabic lessened its holdings in AT&T Inc. (NYSE:T - Free Report) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,500 shares of the technology company's stock after selling 24,000 shares during the quarter. Pensionfund Sabic's holdings in AT&T were worth $2,531,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capstone Wealth Management LLC bought a new stake in AT&T in the first quarter valued at $201,000. Wedmont Private Capital lifted its stake in AT&T by 7.9% in the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after buying an additional 9,027 shares during the last quarter. Xponance Inc. lifted its stake in AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after buying an additional 102,419 shares during the last quarter. NBT Bank N A NY lifted its stake in AT&T by 7.5% in the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock valued at $3,660,000 after buying an additional 8,989 shares during the last quarter. Finally, Park Edge Advisors LLC bought a new stake in AT&T in the first quarter valued at $1,000,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price on the stock. Bank of America initiated coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average target price of $30.60.

AT&T Price Performance

Shares of NYSE T opened at $29.59 on Friday. The firm's 50-day simple moving average is $28.31 and its 200 day simple moving average is $27.73. The stock has a market cap of $211.58 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. 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 (NYSE:T - Get Free Report) last released 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 firm had revenue of $30.85 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $0.51 earnings per share. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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

AT&T 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.

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