Wilmington Savings Fund Society FSB Lowers Holdings in AT&T Inc. $T

Wilmington Savings Fund Society FSB decreased its stake in AT&T Inc. (NYSE:T) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 253,918 shares of the technology company’s stock after selling 932 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in AT&T were worth $7,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of T. Stone House Investment Management LLC purchased a new stake in shares of AT&T in the first quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T during the second quarter worth approximately $26,000. Hager Investment Management Services LLC boosted its position in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares in the last quarter. Kennebec Savings Bank boosted its position in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares in the last quarter. Finally, Core Alternative Capital boosted its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $26.12 on Wednesday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market cap of $186.74 billion, a PE ratio of 14.84, a P/E/G ratio of 2.07 and a beta of 0.42. The stock has a 50 day moving average price of $28.37 and a 200 day moving average price of $27.85.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal 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 paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on T shares. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

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.