Scotia Capital Inc. Sells 75,092 Shares of AT&T Inc. $T

Scotia Capital Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 528,116 shares of the technology company’s stock after selling 75,092 shares during the quarter. Scotia Capital Inc.’s holdings in AT&T were worth $15,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in AT&T in the second quarter valued at approximately $26,000. Kennebec Savings Bank grew its holdings in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Solstein Capital LLC raised its position in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the last quarter. Finally, Curio Wealth LLC lifted its stake in shares of AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,044 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. TD Cowen boosted their target price on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Wells Fargo & Company reduced their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $30.64.

AT&T Price Performance

Shares of T opened at $25.99 on Friday. The stock has a 50 day simple moving average of $26.02 and a 200 day simple moving average of $27.42. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market capitalization of $184.25 billion, a PE ratio of 8.44, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm 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 business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio is presently 36.04%.

AT&T Company 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.