AT&T Inc. $T Stock Holdings Decreased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its AT&T stake by 94.2% in the third quarter, selling 408,201 shares and retaining 25,000 shares valued at about $610,000.
• AT&T reported quarterly earnings of $0.65 per share, beating the $0.60 consensus estimate, while revenue rose 5.2% year over year to $32.32 billion.
• Analysts’ consensus rating was Hold, with an average price target of $27.56. AT&T’s annualized dividend was $1.11 per share, a yield of about 5.1%.

International Assets Investment Management LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 94.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,000 shares of the technology company's stock after selling 408,201 shares during the period. International Assets Investment Management LLC's holdings in AT&T were worth $610,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE purchased a new stake in shares of AT&T during the second quarter worth about $2,310,898,000. GQG Partners LLC bought a new stake in AT&T during the 2nd quarter valued at approximately $1,223,364,000. Legal & General Group Plc bought a new stake in AT&T during the 2nd quarter valued at approximately $960,695,000. State Street Corp raised its stake in AT&T by 5.8% during the 2nd quarter. State Street Corp now owns 334,273,613 shares of the technology company's stock valued at $6,919,464,000 after purchasing an additional 18,468,679 shares during the period. Finally, Nykredit A S purchased a new position in AT&T in the 2nd quarter worth approximately $259,954,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wolfe Research upgraded AT&T from a "peer perform" rating to an "outperform" rating and set a $29.00 price target for the company in a research note on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on shares of AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, July 23rd. Moffett Nathanson reduced their price objective on shares of AT&T from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 22nd. Bank of America downgraded shares of AT&T to an "underperform" rating in a report on Tuesday, August 4th. Finally, Barclays dropped their target price on shares of AT&T from $24.00 to $21.00 and set an "equal weight" rating for the company in a research report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $27.56.

AT&T Trading Up 0.1%

Shares of T stock opened at $21.86 on Friday. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.43. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock's 50-day moving average price is $24.04 and its 200-day moving average price is $24.92. The stock has a market capitalization of $147.25 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.08 and a beta of 0.30.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The company had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.69 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.39 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Friday, October 9th. AT&T's dividend payout ratio is currently 60.00%.

AT&T Company Profile

AT&T Inc NYSE: T is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.

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