AT&T Inc. (NYSE:T) Position Trimmed by First Heartland Consultants Inc.

First Heartland Consultants Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 9.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 34,299 shares of the technology company’s stock after selling 3,424 shares during the quarter. First Heartland Consultants Inc.’s holdings in AT&T were worth $655,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of AT&T in the fourth quarter valued at approximately $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in AT&T in the fourth quarter worth about $316,472,000. Kodai Capital Management LP acquired a new stake in AT&T in the 4th quarter valued at about $152,109,000. Point72 Asset Management L.P. boosted its position in shares of AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after purchasing an additional 4,970,954 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.5 %

T traded up $0.10 during trading on Monday, reaching $19.83. 7,530,947 shares of the stock were exchanged, compared to its average volume of 35,708,223. AT&T Inc. has a twelve month low of $14.11 and a twelve month high of $19.99. The stock has a market cap of $142.18 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58. The stock’s 50 day moving average price is $18.96 and its two-hundred day moving average price is $17.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Moffett Nathanson lifted their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.06.

About AT&T

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.