Generali Asset Management SPA SGR Decreases Stock Position in AT&T Inc. $T

Key Points

• Generali Asset Management SPA SGR has reduced its stakes in AT&T Inc. by 14.5% during the second quarter, now owning 377,587 shares valued at approximately $10.9 million.
• AT&T has recently announced a quarterly dividend of $0.2775 per share, with a dividend yield of 4.3% and an annualized payout of $1.11.
• Despite the recent stake reductions, other institutional investors, such as CHURCHILL MANAGEMENT Corp and Simplicity Wealth LLC, have increased their holdings in AT&T during the same period.

Generali Asset Management SPA SGR reduced its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 14.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,587 shares of the technology company's stock after selling 64,011 shares during the quarter. Generali Asset Management SPA SGR's holdings in AT&T were worth $10,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp lifted its stake in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company's stock valued at $9,380,000 after buying an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. acquired a new position in shares of AT&T in the second quarter worth $489,000. ASR Vermogensbeheer N.V. raised its holdings in shares of AT&T by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company's stock worth $20,910,000 after acquiring an additional 9,970 shares during the last quarter. Simplicity Wealth LLC lifted its position in shares of AT&T by 180.5% in the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company's stock valued at $3,302,000 after acquiring an additional 73,417 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after acquiring an additional 102,419 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Up 2.1%

Shares of T stock opened at $26.12 on Wednesday. The firm has a market cap of $186.74 billion, a P/E ratio of 14.84, a PEG ratio of 2.07 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. 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 firm's 50-day simple moving average is $28.37 and its 200-day simple moving average is $27.85.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. AT&T's revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 4.3%. AT&T's payout ratio is currently 63.07%.

Analyst Ratings Changes

T has been the subject of a number of recent research reports. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. Wells Fargo & Company boosted 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 downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. Finally, Scotiabank set a $30.25 target price on shares of AT&T and gave the stock a "sector perform" rating in a research note on Monday, October 6th. One investment 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.75.

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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