University of Texas Texas AM Investment Management Co. Lowers Stake in AT&T Inc. $T

University of Texas Texas AM Investment Management Co. cut its position in shares of AT&T Inc. (NYSE:T) by 59.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,886 shares of the technology company’s stock after selling 103,587 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in AT&T were worth $2,080,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of T. Interchange Capital Partners LLC grew its holdings in shares of AT&T by 13.8% during the 2nd quarter. Interchange Capital Partners LLC now owns 8,073 shares of the technology company’s stock worth $234,000 after purchasing an additional 976 shares during the period. Brighton Jones LLC lifted its position in AT&T by 30.2% during the second quarter. Brighton Jones LLC now owns 60,910 shares of the technology company’s stock valued at $1,763,000 after buying an additional 14,117 shares in the last quarter. Leavell Investment Management Inc. grew its stake in AT&T by 31.3% during the second quarter. Leavell Investment Management Inc. now owns 74,130 shares of the technology company’s stock worth $2,145,000 after buying an additional 17,663 shares during the period. Brian Low Financial Group LLC purchased a new position in shares of AT&T in the 2nd quarter valued at $247,000. Finally, AG2R LA Mondiale Gestion D Actifs lifted its holdings in shares of AT&T by 0.7% during the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 267,404 shares of the technology company’s stock valued at $7,739,000 after acquiring an additional 1,908 shares in 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 brokerages have commented on T. Barclays reduced their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Friday. TD Cowen lifted their price target on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Price Performance

Shares of T stock opened at $25.17 on Friday. The firm has a fifty day moving average of $27.97 and a two-hundred day moving average of $27.76. The firm has a market cap of $179.95 billion, a P/E ratio of 8.17, a P/E/G ratio of 2.04 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.76.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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 $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is 36.04%.

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.