Callahan Advisors LLC Has $8.13 Million Stock Position in AT&T Inc. $T

Key Points

• Callahan Advisors LLC reduced its holdings in AT&T Inc. by 6.6% in Q2, now possessing 280,938 shares valued at $8.13 million, according to a SEC filing.
• Analysts have mixed views on AT&T, with Wells Fargo raising its price target to $31.00 while HSBC downgraded it to a "hold," leading to a consensus rating of "Moderate Buy."
• AT&T recently announced a quarterly dividend of $0.2775 per share, representing a yield of 4.3% and a payout ratio of 63.07%.

Callahan Advisors LLC lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,938 shares of the technology company's stock after selling 19,978 shares during the quarter. Callahan Advisors LLC's holdings in AT&T were worth $8,130,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T in the 2nd quarter valued at about $26,000. Hager Investment Management Services LLC increased its position in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank increased its position in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Core Alternative Capital increased its position in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on T. Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a "sector perform" rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.75.

AT&T Stock Down 0.2%

Shares of NYSE:T opened at $26.07 on Thursday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a 50 day moving average of $28.34 and a 200-day moving average of $27.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $186.43 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 2.12 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 EPS. AT&T's revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current 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 paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T's dividend payout ratio (DPR) is presently 63.07%.

AT&T Company 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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