Gateway Investment Advisers LLC reduced its position in AT&T Inc. (NYSE:T - Free Report) by 13.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,389,406 shares of the technology company's stock after selling 218,506 shares during the quarter. Gateway Investment Advisers LLC's holdings in AT&T were worth $40,209,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in AT&T during the 4th quarter valued at about $25,000. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter valued at about $27,000. Hager Investment Management Services LLC boosted its holdings in AT&T by 182.1% during 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 during the period. Finally, Core Alternative Capital boosted its holdings in AT&T by 125.4% during 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 during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
T has been the subject of several analyst reports. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Scotiabank increased their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Finally, Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.60.
Read Our Latest Stock Report on AT&T
AT&T Stock Performance
Shares of T opened at $29.37 on Wednesday. The business's fifty day simple moving average is $28.35 and its two-hundred day simple moving average is $27.77. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a market cap of $210.01 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 3.68 and a beta of 0.44.
AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T's payout ratio is 63.07%.
AT&T Company Profile
(
Free Report)
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.
Further Reading
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