AT&T Inc. $T Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. trimmed its position in shares of AT&T Inc. (NYSE:T) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,679 shares of the technology company’s stock after selling 2,246 shares during the quarter. Baxter Bros Inc.’s holdings in AT&T were worth $830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T during the second quarter worth about $5,266,758,000. Nuveen LLC acquired a new position in shares of AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC increased its stake in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board increased its stake in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on T shares. Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. UBS Group set a $33.00 price objective on shares of AT&T in a report on Thursday, September 18th. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $30.75.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $26.24 on Thursday. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a market capitalization of $187.63 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 3.35 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm’s 50-day moving average is $28.51 and its two-hundred day moving average is $27.90.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (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 company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

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.