AT&T Inc. $T Shares Sold by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL lessened its position in AT&T Inc. (NYSE:T) by 36.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,462 shares of the technology company’s stock after selling 8,768 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in AT&T were worth $447,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its stake in AT&T by 0.9% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 63,905 shares of the technology company’s stock valued at $1,773,000 after purchasing an additional 566 shares during the last quarter. Sigma Investment Counselors Inc. acquired a new stake in AT&T during the 2nd quarter worth $241,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of AT&T during the second quarter worth $218,000. Arcus Capital Partners LLC acquired a new stake in shares of AT&T in the second quarter valued at about $205,000. Finally, TrueMark Investments LLC lifted its stake in shares of AT&T by 2.4% in the second quarter. TrueMark Investments LLC now owns 450,645 shares of the technology company’s stock worth $13,042,000 after buying an additional 10,748 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.5%

T stock opened at $26.33 on Monday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The firm has a market cap of $188.24 billion, a PE ratio of 14.96, a PEG ratio of 2.13 and a beta of 0.42. The firm’s 50 day moving average price is $28.27 and its 200-day moving average price is $27.80. 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 issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on T shares. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. UBS Group set a $33.00 price target on AT&T in a research report on Thursday, September 18th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.65.

AT&T 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.