OMERS ADMINISTRATION Corp Sells 10,495 Shares of AT&T Inc. $T

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in AT&T by 2.4%, selling 10,495 shares and holding 425,301 shares valued at approximately $12 million at the end of the latest quarter.
• AT&T reported a quarterly EPS of $0.54, surpassing estimates, with a revenue of $30.85 billion and a year-over-year revenue growth of 3.4%.
• The company declared a quarterly dividend of $0.2775 per share, reflecting an annualized dividend of $1.11 and a yield of 3.8%.

OMERS ADMINISTRATION Corp decreased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 425,301 shares of the technology company's stock after selling 10,495 shares during the period. OMERS ADMINISTRATION Corp's holdings in AT&T were worth $12,028,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in AT&T in the 4th quarter worth about $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T in the 4th quarter worth about $25,000. Stone House Investment Management LLC acquired a new stake in AT&T in the 1st quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in AT&T in the 4th quarter worth about $27,000. Finally, Hager Investment Management Services LLC raised its stake 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 worth $28,000 after purchasing an additional 641 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America assumed 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 for the company. Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Raymond James Financial reiterated a "strong-buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Scotiabank lifted their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

AT&T Price Performance

T stock traded up $0.35 during mid-day trading on Friday, hitting $29.29. The stock had a trading volume of 26,535,515 shares, compared to its average volume of 29,711,526. 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 52 week low of $19.62 and a 52 week high of $29.65. The firm has a market capitalization of $209.43 billion, a P/E ratio of 16.64, a P/E/G ratio of 3.58 and a beta of 0.42. The firm has a fifty day simple moving average of $28.11 and a 200 day simple moving average of $27.51.

AT&T (NYSE:T - Get Free Report) last released 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 firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued 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 dividend yield of 3.8%. AT&T's 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.