Eagle Bay Advisors LLC Sells 1,203 Shares of AT&T Inc. (NYSE:T)

Eagle Bay Advisors LLC trimmed its position in AT&T Inc. (NYSE:T) by 33.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,383 shares of the technology company’s stock after selling 1,203 shares during the quarter. Eagle Bay Advisors LLC’s holdings in AT&T were worth $46,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Norges Bank purchased a new position in shares of AT&T in the 4th quarter worth approximately $1,118,288,000. Charles Schwab Investment Management Inc. raised its holdings in AT&T by 1.6% during the 4th 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 during the period. Finally, Dimensional Fund Advisors LP lifted its position in AT&T by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after buying an additional 1,137,792 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on T. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Oppenheimer increased their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Stock Up 0.7 %

T traded up $0.13 during trading on Wednesday, hitting $19.78. The stock had a trading volume of 7,560,381 shares, compared to its average volume of 35,536,742. The stock has a 50 day simple moving average of $19.01 and a two-hundred day simple moving average of $17.81. The company has a market capitalization of $141.83 billion, a PE ratio of 10.63, a PEG ratio of 3.26 and a beta of 0.58. 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 Inc. has a twelve month low of $14.12 and a twelve month high of $19.99.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.61%. AT&T’s dividend payout ratio (DPR) is 59.68%.

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.