Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Sells 51,966 Shares of AT&T Inc. $T

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. sold 51,966 shares of AT&T Inc., reducing its holdings by 44.8% to 64,012 shares, valued at approximately $1.85 million.
• AT&T plans to pay a quarterly dividend of $0.2775 on November 3rd, representing an annual yield of 4.3% and a payout ratio of 63.07%.
• Analysts have mixed views on AT&T's stock, with a range of ratings including one Strong Buy, sixteen Buys, and seven Holds, along with an average price target of $30.75.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. cut its position in AT&T Inc. (NYSE:T - Free Report) by 44.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,012 shares of the technology company's stock after selling 51,966 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in AT&T were worth $1,853,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in shares of AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the 2nd quarter worth $26,000. Hager Investment Management Services LLC grew 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 purchasing an additional 641 shares during the period. Kennebec Savings Bank increased its stake in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after purchasing an additional 783 shares in the last quarter. Finally, Core Alternative Capital increased its stake 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 purchasing an additional 568 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America initiated coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective on the stock. Sanford C. Bernstein upped their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of AT&T in a research note on Wednesday. Barclays reissued an "equal weight" rating and set a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. Finally, HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.75.

AT&T Trading Down 1.0%

NYSE:T opened at $25.85 on Friday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a 50-day moving average price of $28.45 and a two-hundred day moving average price of $27.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $184.82 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The firm 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 quarter in the previous year, the business earned $0.51 EPS. On average, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio is 63.07%.

About AT&T

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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