AT&T Inc. $T Shares Sold by Professional Advisory Services Inc.

Key Points

• Professional Advisory Services Inc. reduced its stake in AT&T Inc. by 5.3%, selling 42,445 shares, leaving them with 758,083 shares worth approximately $21.9 million.
• AT&T's latest quarterly earnings report showed an EPS of $0.54, exceeding estimates while revenue increased by 3.4% year-over-year.
• The company declared a dividend of $0.2775 per share, yielding 3.8% annually, with a payout ratio of 63.07%.

Professional Advisory Services Inc. lowered its position in AT&T Inc. (NYSE:T - Free Report) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 758,083 shares of the technology company's stock after selling 42,445 shares during the quarter. AT&T makes up approximately 3.0% of Professional Advisory Services Inc.'s holdings, making the stock its 12th biggest position. Professional Advisory Services Inc.'s holdings in AT&T were worth $21,939,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock valued at $18,411,543,000 after acquiring an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in AT&T in the 2nd quarter worth $5,266,758,000. GQG Partners LLC raised its holdings in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

T traded down $0.16 during trading on Friday, reaching $29.04. The stock had a trading volume of 62,059,787 shares, compared to its average volume of 29,475,850. 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 business has a 50-day moving average of $28.45 and a 200-day moving average of $27.82. The stock has a market cap of $207.65 billion, a PE ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping 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 business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm's revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on T. Morgan Stanley boosted their price target 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. Scotiabank boosted their price objective on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Wells Fargo & Company boosted their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. UBS Group set a $33.00 target price on AT&T in a report on Thursday. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.74.

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.