UniSuper Management Pty Ltd Sells 32,684 Shares of AT&T Inc. (NYSE:T)

UniSuper Management Pty Ltd lowered its position in shares of AT&T Inc. (NYSE:T) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,364 shares of the technology company’s stock after selling 32,684 shares during the quarter. UniSuper Management Pty Ltd’s holdings in AT&T were worth $2,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of AT&T in the 4th quarter worth about $1,118,288,000. Thornburg Investment Management Inc. purchased a new position in shares of AT&T in the 4th quarter worth about $316,472,000. Kodai Capital Management LP purchased a new position in shares of AT&T in the 4th quarter worth about $152,109,000. Point72 Asset Management L.P. raised its position in shares of AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after purchasing an additional 4,014,873 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T traded down $0.32 during trading on Tuesday, reaching $18.23. 70,104,783 shares of the company traded hands, compared to its average volume of 36,520,348. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a 12-month low of $13.89 and a 12-month high of $19.33. The firm has a fifty day simple moving average of $18.21 and a 200 day simple moving average of $17.43. The company has a market cap of $130.71 billion, a P/E ratio of 9.80, a PEG ratio of 3.61 and a beta of 0.58.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the firm posted $0.60 EPS. The company’s revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.23 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.09%. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price target on shares of AT&T in a research report on Wednesday, July 10th. Oppenheimer restated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. UBS Group restated a “buy” rating and set a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.85.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.