AT&T Inc. $T Stake Trimmed by Ameriflex Group Inc.

Key Points

• Ameriflex Group Inc. significantly reduced its holding in AT&T Inc. by 67.4%, selling 25,704 shares and leaving them with 12,414 shares worth approximately $348,000.
• AT&T reported a quarterly earnings per share of $0.54, surpassing estimates, while also announcing a quarterly dividend of $0.2775 per share with a yield of 4.1%.
• Recent analysts' ratings have varied, with Morgan Stanley raising their target price to $32.00 and HSBC downgrading it to $30.00, indicating mixed sentiments in the market regarding AT&T's future performance.

Ameriflex Group Inc. lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 67.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,414 shares of the technology company's stock after selling 25,704 shares during the quarter. Ameriflex Group Inc.'s holdings in AT&T were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in AT&T in the 2nd quarter worth about $5,266,758,000. GQG Partners LLC increased its stake in AT&T by 17.7% in the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in AT&T by 3.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock valued at $1,508,411,000 after acquiring an additional 1,307,009 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.2%

T opened at $27.06 on Friday. The business has a 50 day moving average price of $28.60 and a 200 day moving average price of $27.91. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. 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 firm has a market cap of $193.49 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company earned $0.51 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T's payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on T. Morgan Stanley lifted 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. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. Barclays reaffirmed an "equal weight" rating and set a $30.00 target price on shares of AT&T in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average 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.

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