Pekin Hardy Strauss Inc. Sells 3,464 Shares of AT&T Inc. $T

Pekin Hardy Strauss Inc. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 14.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,043 shares of the technology company’s stock after selling 3,464 shares during the period. Pekin Hardy Strauss Inc.’s holdings in AT&T were worth $580,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of T. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T during the second quarter valued at about $5,266,758,000. Nuveen LLC bought a new position in AT&T during the first quarter valued at approximately $1,072,128,000. GQG Partners LLC grew its holdings in 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 buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.3%

NYSE:T opened at $24.81 on Friday. The company has a market cap of $175.85 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $27.14 and a 200-day simple moving average of $27.62.

AT&T (NYSE:T) last announced its quarterly 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 firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

Several research firms have commented on T. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Wells Fargo & Company reduced their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

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.