AT&T Inc. $T Stock Holdings Lessened by Richard P Slaughter Associates Inc

Key Points

• Richard P Slaughter Associates Inc reduced its holdings in AT&T by 53.7% during the second quarter, owning 20,855 shares valued at approximately $604,000 after selling 24,219 shares.
• Analysts have raised their price targets for AT&T, with Wells Fargo setting a new target of $31 and JPMorgan increasing theirs to $33, reflecting a generally positive outlook on the stock.
• AT&T reported a quarterly earnings per share (EPS) of $0.54, exceeding expectations and showing a 3.4% year-over-year revenue increase to $30.85 billion.

Richard P Slaughter Associates Inc reduced its holdings in AT&T Inc. (NYSE:T - Free Report) by 53.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,855 shares of the technology company's stock after selling 24,219 shares during the quarter. Richard P Slaughter Associates Inc's holdings in AT&T were worth $604,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of T. Nuveen LLC bought a new position in shares of AT&T in the 1st quarter worth about $1,072,128,000. GQG Partners LLC lifted its position in shares of 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 buying an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after buying an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after buying an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Morgan Stanley increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Sanford C. Bernstein increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.60.

AT&T Stock Up 0.3%

AT&T stock opened at $29.59 on Monday. The stock has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.68 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company's 50-day moving average price is $28.31 and its two-hundred day moving average price is $27.74. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

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, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. On average, analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T's payout ratio is currently 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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