AT&T Inc. $T Stock Position Lowered by Liberty One Investment Management LLC

Key Points

• Liberty One Investment Management LLC reduced its stake in AT&T by 3.8%, bringing its holdings down to 964,224 shares valued at approximately $27.9 million.
• AT&T recently announced a quarterly dividend of $0.2775 per share, equating to an annual yield of 4.3% and a payout ratio of 63.07%.
• Wall Street analysts maintain an average rating of "Moderate Buy" for AT&T with a consensus price target of $30.65, with various firms assigning different target prices ranging from $30.00 to $33.00.

Liberty One Investment Management LLC lessened its position in AT&T Inc. (NYSE:T - Free Report) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 964,224 shares of the technology company's stock after selling 38,368 shares during the period. AT&T makes up 2.8% of Liberty One Investment Management LLC's holdings, making the stock its 13th largest position. Liberty One Investment Management LLC's holdings in AT&T were worth $27,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T in the 2nd quarter worth $5,266,758,000. GQG Partners LLC raised its stake 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 buying an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after buying an additional 1,307,009 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on T. Scotiabank set a $30.25 price objective on AT&T and gave the stock a "sector perform" rating in a research note on Monday, October 6th. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Finally, Barclays restated an "equal weight" rating and issued a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus price target of $30.65.

AT&T Stock Performance

Shares of T stock opened at $26.08 on Tuesday. AT&T Inc. has a 1-year low of $21.05 and a 1-year 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. The company has a market capitalization of $186.45 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 2.13 and a beta of 0.42. The stock's fifty day simple moving average is $28.23 and its 200-day simple moving average is $27.80.

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 for the quarter, beating 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 business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. AT&T's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.3%. AT&T's dividend payout ratio (DPR) is presently 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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