AT&T Inc. $T Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in AT&T Inc. (NYSE:T) by 9.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,072,261 shares of the technology company’s stock after selling 214,728 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AT&T were worth $59,971,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. J. L. Bainbridge & Co. Inc. boosted its position in AT&T by 1.7% in the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock valued at $615,000 after buying an additional 355 shares during the period. Financial & Tax Architects LLC raised its stake in shares of AT&T by 4.9% in the second quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock valued at $220,000 after acquiring an additional 356 shares in the last quarter. Roberts Glore & Co. Inc. IL boosted its holdings in AT&T by 2.0% in the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after purchasing an additional 357 shares during the period. Investment Partners LTD. grew its stake in AT&T by 3.5% during the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after purchasing an additional 357 shares in the last quarter. Finally, Parcion Private Wealth LLC grew its stake in AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after purchasing an additional 364 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. 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 report on Thursday, September 18th. KeyCorp raised shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Tuesday, November 11th. TD Cowen lifted their price objective on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada lowered their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. One 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 MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.55.

AT&T Trading Up 1.1%

Shares of AT&T stock opened at $24.57 on Friday. 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 company has a fifty day simple moving average of $25.41 and a 200-day simple moving average of $27.26. The stock has a market cap of $174.20 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.42 and a beta of 0.38. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period last year, the business earned $0.60 EPS. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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