Columbus Macro LLC Sells 4,330 Shares of AT&T Inc. $T

Columbus Macro LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,114 shares of the technology company’s stock after selling 4,330 shares during the quarter. Columbus Macro LLC’s holdings in AT&T were worth $2,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the 2nd quarter worth $5,266,758,000. Nuveen LLC bought a new stake in AT&T during the first quarter valued at about $1,072,128,000. GQG Partners LLC boosted its position in AT&T by 17.7% during 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 in the last quarter. Ontario Teachers Pension Plan Board boosted its position in 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 valued at $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position 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 valued at $321,372,000 after purchasing an additional 8,841,126 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on T shares. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. JPMorgan Chase & Co. raised their price objective on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Wednesday. Finally, Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Stock Up 0.3%

Shares of T stock opened at $26.24 on Thursday. The stock has a 50 day moving average of $28.51 and a 200 day moving average of $27.90. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market cap of $187.63 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.35 and a beta of 0.42. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

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

AT&T Announces Dividend

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