Single Point Partners LLC Sells 500 Shares of AT&T Inc. $T

Single Point Partners LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,596 shares of the technology company’s stock after selling 500 shares during the quarter. Single Point Partners LLC’s holdings in AT&T were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the 2nd quarter valued at $5,266,758,000. GQG Partners LLC raised its holdings 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 valued at $3,222,711,000 after purchasing an additional 17,177,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in AT&T by 3.3% in the 1st 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 valued at $1,561,514,000 after buying an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after buying an additional 1,307,009 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $27.06 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market capitalization of $193.49 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The company’s fifty day moving average is $28.60 and its two-hundred day moving average is $27.91. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. Equities research 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. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is 63.07%.

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Barclays reiterated an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a research note on Wednesday. Finally, Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.74.

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.