BancFirst Trust & Investment Management Trims Stake in AT&T Inc. $T

BancFirst Trust & Investment Management reduced its holdings in shares of AT&T Inc. (NYSE:T) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,574 shares of the technology company’s stock after selling 871 shares during the period. BancFirst Trust & Investment Management’s holdings in AT&T were worth $269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in AT&T during the first quarter valued at approximately $25,000. Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the last quarter. IMA Advisory Services Inc. bought a new position in shares of AT&T in the first quarter worth approximately $29,000. Core Alternative Capital increased its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of AT&T in the fourth quarter worth $25,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on T shares. Morgan Stanley increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Wells Fargo & Company increased their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Scotiabank increased their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. Finally, Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

AT&T Price Performance

Shares of NYSE:T opened at $29.59 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a fifty day moving average price of $28.31 and a 200 day moving average price of $27.73. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. AT&T’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T’s dividend payout ratio (DPR) is 63.07%.

About AT&T

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.