AT&T Inc. $T Shares Sold by Te Ahumairangi Investment Management Ltd

Key Points

• Te Ahumairangi Investment Management Ltd has reduced its holdings in AT&T by 25.3%, now owning approximately 382,950 shares valued at about $10.83 million.
• Several hedge funds have made changes to their positions in AT&T, with Brighton Jones LLC increasing their stake by 26.5% and Yoffe Investment Management LLC entering a new position.
• AT&T recently announced a quarterly dividend of $0.2775, representing a 3.8% yield, and reported quarterly earnings that beat estimates with a revenue of $30.85 billion.

Te Ahumairangi Investment Management Ltd lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 25.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,950 shares of the technology company's stock after selling 129,612 shares during the quarter. AT&T makes up about 2.3% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 8th largest holding. Te Ahumairangi Investment Management Ltd's holdings in AT&T were worth $10,830,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC purchased a new position in AT&T in the fourth quarter worth approximately $213,000. Rehmann Capital Advisory Group grew its position in AT&T by 7.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 48,726 shares of the technology company's stock worth $1,110,000 after acquiring an additional 3,377 shares during the period. Parvin Asset Management LLC purchased a new position in AT&T in the fourth quarter worth approximately $106,000. Finally, South Plains Financial Inc. purchased a new position in AT&T in the fourth quarter worth approximately $160,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on T. Bank of America began coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. 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 research report on Thursday, July 10th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday. Finally, Scotiabank raised 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

AT&T Stock Down 0.3%

Shares of NYSE T opened at $28.97 on Friday. The stock has a market cap of $207.11 billion, a P/E ratio of 16.46, a PEG ratio of 3.59 and a beta of 0.42. 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 Inc. has a 12-month low of $19.62 and a 12-month high of $29.65. The business's fifty day simple moving average is $28.08 and its 200-day simple moving average is $27.48.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

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.

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