Auto Owners Insurance Co Sells 71,553 Shares of AT&T Inc. (NYSE:T)

Auto Owners Insurance Co trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 49.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,000 shares of the technology company's stock after selling 71,553 shares during the period. Auto Owners Insurance Co's holdings in AT&T were worth $2,064,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Keystone Financial Group grew its position in shares of AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after buying an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC bought a new stake in shares of AT&T during the first quarter valued at approximately $201,000. World Investment Advisors boosted its position in shares of AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after purchasing an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. boosted its position in shares of AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after purchasing an additional 365,776 shares in the last quarter. Finally, Huber Capital Management LLC raised its stake in AT&T by 2.7% during the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after buying an additional 15,000 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on T shares. Cowen reiterated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a research report on Thursday, April 24th. Barclays upped their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Royal Bank Of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus price target of $29.17.

AT&T Stock Performance

Shares of T stock opened at $27.37 on Wednesday. The company's fifty day simple moving average is $27.74 and its 200-day simple moving average is $26.49. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.19. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The company has a market cap of $196.97 billion, a PE ratio of 16.79, a P/E/G ratio of 3.42 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 68.10%.

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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