AT&T Inc. $T Shares Sold by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,083 shares of the technology company’s stock after selling 1,754 shares during the period. Pinnacle West Asset Management Inc.’s holdings in AT&T were worth $957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. Brighton Jones LLC increased its position in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares during the last quarter. GAMMA Investing LLC grew its stake in AT&T by 15.5% during the first quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company’s stock worth $4,673,000 after buying an additional 22,195 shares during the period. Focus Financial Network Inc. grew its stake in AT&T by 5.4% during the first quarter. Focus Financial Network Inc. now owns 20,679 shares of the technology company’s stock worth $585,000 after buying an additional 1,054 shares during the period. Capital Advisors Ltd. LLC grew its stake in AT&T by 13.8% during the first quarter. Capital Advisors Ltd. LLC now owns 5,485 shares of the technology company’s stock worth $155,000 after buying an additional 667 shares during the period. Finally, Fifth Third Bancorp grew its stake in AT&T by 1.4% during the first quarter. Fifth Third Bancorp now owns 933,782 shares of the technology company’s stock worth $26,407,000 after buying an additional 12,927 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $25.85 on Friday. The company has a market capitalization of $184.82 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. The firm has a fifty day simple moving average of $28.45 and a 200-day simple moving average of $27.88. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. 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 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 business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

T has been the subject of several research reports. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday. UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday, September 18th. Barclays reiterated an “equal weight” rating and set a $30.00 price objective on shares of AT&T in a research note on Wednesday, October 1st. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.75.

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.