AT&T Inc. $T Shares Sold by Punch & Associates Investment Management Inc.

Key Points

• Punch & Associates Investment Management Inc. reduced its holdings in AT&T Inc. by 16.9%, bringing its total shares to 309,417, valued at approximately $8.75 million.
• AT&T reported a net income increase with earnings of $0.54 per share, surpassing estimates, and recorded revenue of $30.85 billion for the quarter.
• The company announced a quarterly dividend of $0.2775, translating to an annualized dividend yield of 3.8%.

Punch & Associates Investment Management Inc. reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 309,417 shares of the technology company's stock after selling 63,057 shares during the period. Punch & Associates Investment Management Inc.'s holdings in AT&T were worth $8,750,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at about $213,000. CoreCap Advisors LLC lifted its holdings in shares of AT&T by 23.9% in the fourth quarter. CoreCap Advisors LLC now owns 64,841 shares of the technology company's stock valued at $1,476,000 after purchasing an additional 12,489 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of AT&T by 31.7% in the fourth quarter. EP Wealth Advisors LLC now owns 205,279 shares of the technology company's stock valued at $4,674,000 after purchasing an additional 49,386 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of AT&T by 455.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,990,732 shares of the technology company's stock valued at $45,329,000 after purchasing an additional 1,632,098 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.1%

NYSE:T traded down $0.02 on Friday, reaching $29.57. The stock had a trading volume of 25,102,560 shares, compared to its average volume of 27,213,860. The company has a market cap of $211.40 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 3.66 and a beta of 0.44. 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 fifty day moving average is $28.23 and its two-hundred day moving average is $27.65. AT&T Inc. has a 12-month low of $20.65 and a 12-month high of $29.79.

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 company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the prior year, the firm earned $0.51 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.8%. AT&T's dividend payout ratio is currently 63.07%.

Analysts Set New Price Targets

Several analysts have issued reports on T shares. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. UBS Group reaffirmed a "buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $30.55.

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.