Nisa Investment Advisors LLC Decreases Stock Position in AT&T Inc. $T

Nisa Investment Advisors LLC cut its position in AT&T Inc. (NYSE:T) by 38.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,834,694 shares of the technology company’s stock after selling 1,169,814 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AT&T were worth $53,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Denali Advisors LLC lifted its holdings in AT&T by 5.9% during the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after purchasing an additional 22,394 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its position in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new stake in shares of AT&T during the 2nd quarter valued at approximately $489,000. Sentry Investment Management LLC boosted its holdings in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares during the period. Finally, ASR Vermogensbeheer N.V. grew its stake in AT&T by 1.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after buying an additional 9,970 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 2.2%

T stock opened at $25.17 on Friday. The company’s 50 day moving average is $27.97 and its 200 day moving average is $27.76. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market cap of $179.95 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 2.04 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the previous year, the company posted $0.60 EPS. AT&T’s quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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 given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.4%. AT&T’s payout ratio is presently 36.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

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.