SFE Investment Counsel Sells 8,427 Shares of AT&T Inc. $T

SFE Investment Counsel cut its position in AT&T Inc. (NYSE:T) by 14.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,184 shares of the technology company’s stock after selling 8,427 shares during the quarter. SFE Investment Counsel’s holdings in AT&T were worth $1,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Parcion Private Wealth LLC lifted its holdings in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after purchasing an additional 364 shares during the last quarter. Texas Bank & Trust Co raised its position in shares of AT&T by 0.6% in the second quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock valued at $1,860,000 after purchasing an additional 364 shares during the period. David J Yvars Group lifted its stake in shares of AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after buying an additional 372 shares in the last quarter. AllSquare Wealth Management LLC boosted its holdings in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after buying an additional 378 shares during the period. Finally, Barnes Wealth Management Group Inc boosted its holdings in AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after buying an additional 380 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $24.81 on Friday. The stock has a market cap of $175.85 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The business has a 50-day simple moving average of $27.14 and a 200 day simple moving average of $27.62. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

AT&T (NYSE:T) last issued 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. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis 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%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Scotiabank set a $30.25 target price on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Williams Trading set a $33.00 target price on AT&T in a report on Thursday, October 23rd. Finally, Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, 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.