AT&T Inc. $T Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lowered its position in AT&T Inc. (NYSE:T) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,588 shares of the technology company’s stock after selling 1,934 shares during the quarter. Addenda Capital Inc.’s holdings in AT&T were worth $9,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. City Holding Co. lifted its holdings in shares of AT&T by 18.3% in the second quarter. City Holding Co. now owns 40,888 shares of the technology company’s stock valued at $1,183,000 after purchasing an additional 6,321 shares in the last quarter. Symmetry Partners LLC grew its holdings in AT&T by 45.7% during the 2nd quarter. Symmetry Partners LLC now owns 28,545 shares of the technology company’s stock valued at $826,000 after buying an additional 8,960 shares during the last quarter. Wagner Wealth Management LLC raised its holdings in shares of AT&T by 1.8% in the second quarter. Wagner Wealth Management LLC now owns 119,047 shares of the technology company’s stock worth $3,445,000 after acquiring an additional 2,050 shares during the last quarter. Beacon Capital Management LLC lifted its position in shares of AT&T by 9.9% in the second quarter. Beacon Capital Management LLC now owns 17,849 shares of the technology company’s stock valued at $517,000 after acquiring an additional 1,604 shares in the last quarter. Finally, Patton Albertson Miller Group LLC increased its position in AT&T by 26.4% during the 2nd quarter. Patton Albertson Miller Group LLC now owns 11,253 shares of the technology company’s stock worth $326,000 after purchasing an additional 2,350 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on T. UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Finally, Scotiabank increased their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

AT&T Price Performance

Shares of T opened at $28.31 on Friday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. 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 firm has a market cap of $202.43 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 3.62 and a beta of 0.44. The stock has a 50 day moving average of $28.61 and a 200-day moving average of $27.89.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

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.