Capital Investment Advisors LLC Sells 12,556 Shares of AT&T Inc. $T

Capital Investment Advisors LLC lessened its holdings in AT&T Inc. (NYSE:T) by 1.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 950,026 shares of the technology company’s stock after selling 12,556 shares during the period. Capital Investment Advisors LLC’s holdings in AT&T were worth $27,494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after acquiring an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in AT&T in the 2nd quarter valued at $5,266,758,000. GQG Partners LLC increased its stake in AT&T by 17.7% in the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $28.07 on Tuesday. AT&T Inc. has a twelve month low of $21.05 and a twelve month 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 company has a market cap of $200.71 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The company’s 50 day moving average is $28.62 and its 200 day moving average is $27.91.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared 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 4.0%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is presently 63.07%.

Analysts Set New Price Targets

T has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. One 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 stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

AT&T Company 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.