NBC Securities Inc. Decreases Position in AT&T Inc. $T

Key Points

• NBC Securities Inc. reduced its position in AT&T Inc. by 32.2%, now holding 139,670 shares valued at approximately $4,042,000 as of the latest SEC filing.
• AT&T reported a 3.4% increase in quarterly revenue year-over-year, with earnings per share of $0.54, slightly surpassing analysts' expectations.
• The company declared a $0.2775 dividend per share, translating to an annual yield of 3.8%, with a payout ratio of 63.07%.

NBC Securities Inc. lessened its holdings in AT&T Inc. (NYSE:T - Free Report) by 32.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,670 shares of the technology company's stock after selling 66,394 shares during the quarter. NBC Securities Inc.'s holdings in AT&T were worth $4,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new position in shares of AT&T in the first quarter valued at about $1,072,128,000. GQG Partners LLC raised its stake in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock valued at $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of NYSE T opened at $29.59 on Monday. 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 company's 50-day moving average is $28.31 and its 200 day moving average is $27.74. The stock has a market capitalization of $211.58 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.68 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T's payout ratio is presently 63.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on T shares. Wells Fargo & Company upped their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective for the company. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. HSBC downgraded shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.60.

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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