AT&T Inc. $T Stock Sold by AIA Group Ltd

Key Points

• AIA Group cut its AT&T stake by 54.7% in the third quarter, selling 164,165 shares and retaining 135,821 shares worth about $3.3 million.
• AT&T beat quarterly earnings and revenue expectations, reporting EPS of $0.65 and revenue of $32.32 billion; revenue rose 5.2% year over year.
• Analysts’ consensus rating was “Hold,” with an average price target of $27.56. AT&T’s annualized dividend was $1.11 per share, a stated yield of 5.1%.

AIA Group Ltd lowered its holdings in AT&T Inc. (NYSE:T - Free Report) by 54.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,821 shares of the technology company's stock after selling 164,165 shares during the quarter. AIA Group Ltd's holdings in AT&T were worth $3,314,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of T. Hibernia Wealth Partners LLC increased its holdings in shares of AT&T by 4.5% during the 1st quarter. Hibernia Wealth Partners LLC now owns 9,105 shares of the technology company's stock worth $264,000 after buying an additional 392 shares during the last quarter. M.E. Allison & CO. Inc. grew its position in AT&T by 0.5% in the 2nd quarter. M.E. Allison & CO. Inc. now owns 76,978 shares of the technology company's stock worth $1,593,000 after purchasing an additional 397 shares during the last quarter. Accredited Investors Inc. raised its stake in AT&T by 3.5% during the 1st quarter. Accredited Investors Inc. now owns 11,901 shares of the technology company's stock valued at $345,000 after acquiring an additional 400 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its stake in shares of AT&T by 0.4% during the first quarter. Nicholas Hoffman & Company LLC. now owns 97,209 shares of the technology company's stock valued at $2,818,000 after purchasing an additional 402 shares in the last quarter. Finally, Welch & Forbes LLC increased its stake in AT&T by 0.3% during the 1st quarter. Welch & Forbes LLC now owns 133,287 shares of the technology company's stock valued at $3,864,000 after buying an additional 432 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T opened at $21.89 on Thursday. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.43. The firm has a market capitalization of $147.50 billion, a PE ratio of 11.84, a PEG ratio of 1.06 and a beta of 0.30. The business's 50 day moving average is $24.12 and its 200-day moving average is $24.93. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22.

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

AT&T Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. KeyCorp cut their price objective on AT&T from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. Wells Fargo & Company boosted their price target on AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a research note on Thursday, July 23rd. Arete Research cut their target price on AT&T from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, October 1st. Barclays decreased their price target on AT&T from $24.00 to $21.00 and set an "equal weight" rating for the company in a research note on Thursday, October 22nd. Finally, The Goldman Sachs Group set a $27.00 price objective on AT&T in a research note on Wednesday, October 21st. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.56.

About AT&T

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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