AT&T Inc. $T Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in AT&T Inc. by 30.4% during the second quarter, now owning 163,330 shares worth approximately $4.7 million.
• AT&T's quarterly earnings exceeded expectations, reporting $0.54 EPS against a consensus estimate of $0.53, with revenue of $30.85 billion for the quarter.
• The company recently declared a quarterly dividend of $0.2775 per share, representing a yield of 4.3% with an upcoming payment date of November 3rd.

Prime Capital Investment Advisors LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 30.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,330 shares of the technology company's stock after selling 71,227 shares during the period. Prime Capital Investment Advisors LLC's holdings in AT&T were worth $4,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T in the 2nd quarter valued at about $5,266,758,000. Nuveen LLC purchased a new stake in shares of AT&T in the first quarter valued at about $1,072,128,000. GQG Partners LLC lifted its holdings in shares of AT&T by 17.7% in 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 in the last quarter. Ontario Teachers Pension Plan Board grew its position in shares of AT&T by 30,527.5% in 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 increased its stake in shares of AT&T by 350.4% during the 1st 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 in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. JPMorgan Chase & Co. boosted their price target on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of AT&T in a research report on Saturday, September 27th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. Finally, Scotiabank set a $30.25 target price on shares of AT&T and gave the company a "sector perform" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AT&T has an average rating of "Moderate Buy" and a consensus price target of $30.75.

AT&T Stock Performance

AT&T stock opened at $25.88 on Tuesday. The firm has a market capitalization of $185.05 billion, a P/E ratio of 14.70, a PEG ratio of 3.46 and a beta of 0.42. The stock has a fifty day moving average price of $28.56 and a 200 day moving average price of $27.92. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last issued its quarterly 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. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the company earned $0.51 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given 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 4.3%. AT&T's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.