Greenleaf Trust Decreases Stake in AT&T Inc. $T

Greenleaf Trust cut its position in AT&T Inc. (NYSE:T) by 10.0% during the second quarter, HoldingsChannel reports. The firm owned 142,418 shares of the technology company’s stock after selling 15,819 shares during the quarter. Greenleaf Trust’s holdings in AT&T were worth $4,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after buying an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T in the 2nd quarter valued at about $5,266,758,000. GQG Partners LLC increased its stake in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T opened at $28.07 on Tuesday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The stock has a market capitalization of $200.71 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 3.62 and a beta of 0.44. The company has a 50-day simple moving average of $28.62 and a 200-day simple moving average of $27.91. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.0%. AT&T’s payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on T. Scotiabank upped their target price on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Morgan Stanley boosted their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Company Profile

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.