Securian Asset Management Inc. Sells 4,034 Shares of AT&T Inc. $T

Securian Asset Management Inc. lowered its position in AT&T Inc. (NYSE:T) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 376,207 shares of the technology company’s stock after selling 4,034 shares during the period. Securian Asset Management Inc.’s holdings in AT&T were worth $10,887,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. purchased a new stake in shares of AT&T during the second quarter valued at approximately $489,000. ASR Vermogensbeheer N.V. increased its position in shares of AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after acquiring an additional 9,970 shares during the last quarter. Sentry Investment Management LLC increased its position in shares of AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after acquiring an additional 13,370 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in shares of AT&T by 180.5% during the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock valued at $3,302,000 after acquiring an additional 73,417 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Barclays reissued an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group assumed coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.65.

AT&T Stock Performance

AT&T stock opened at $26.08 on Tuesday. 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 company has a market capitalization of $186.45 billion, a P/E ratio of 14.82, a PEG ratio of 2.13 and a beta of 0.42. The stock’s 50 day moving average is $28.23 and its 200 day moving average is $27.80. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T) last released 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. The business had revenue of $30.85 billion for 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 firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is presently 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.