AT&T Inc. (NYSE:T) Shares Sold by Beacon Capital Management LLC

Beacon Capital Management LLC reduced its holdings in AT&T Inc. (NYSE:T) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,267 shares of the technology company’s stock after selling 788 shares during the quarter. Beacon Capital Management LLC’s holdings in AT&T were worth $330,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 4,014,873 shares during the last quarter. Norges Bank acquired a new position in shares of AT&T in the 4th quarter worth $1,118,288,000. Charles Schwab Investment Management Inc. grew its holdings in shares of AT&T by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after buying an additional 798,024 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after buying an additional 1,137,792 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of a number of research analyst reports. TD Cowen lifted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $22.06.

AT&T Stock Performance

Shares of T stock traded up $0.22 during mid-day trading on Friday, reaching $19.73. The stock had a trading volume of 21,519,295 shares, compared to its average volume of 35,880,934. AT&T Inc. has a one year low of $14.04 and a one year high of $19.99. The firm has a market cap of $141.47 billion, a PE ratio of 10.61, a P/E/G ratio of 3.26 and a beta of 0.58. The firm’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $17.79. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.63%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.