Hanson & Doremus Investment Management Cuts Position in AT&T Inc. $T

Hanson & Doremus Investment Management lowered its holdings in shares of AT&T Inc. (NYSE:T) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,383 shares of the technology company’s stock after selling 1,010 shares during the quarter. Hanson & Doremus Investment Management’s holdings in AT&T were worth $358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kingstone Capital Partners Texas LLC acquired a new position in AT&T during the second quarter worth $5,266,758,000. Nuveen LLC purchased a new stake in shares of AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC raised its position in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Wells Fargo & Company upped their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Stock Up 0.0%

Shares of T opened at $28.31 on Monday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $28.61 and a two-hundred day simple moving average of $27.90. The company has a market capitalization of $202.43 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44.

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. 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 for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the company posted $0.51 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. AT&T’s dividend payout ratio (DPR) is currently 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.