AT&T Inc. $T Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co reduced its holdings in shares of AT&T Inc. (NYSE:T) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,013 shares of the technology company’s stock after selling 3,018 shares during the quarter. Perkins Coie Trust Co’s holdings in AT&T were worth $3,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC grew its holdings in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC bought a new position in shares of AT&T during the fourth quarter worth about $213,000. Continuum Advisory LLC grew its stake in AT&T by 1.8% in the fourth quarter. Continuum Advisory LLC now owns 36,399 shares of the technology company’s stock worth $829,000 after purchasing an additional 643 shares in the last quarter. First Heartland Consultants Inc. increased its holdings in AT&T by 7.2% in the fourth quarter. First Heartland Consultants Inc. now owns 37,881 shares of the technology company’s stock valued at $863,000 after buying an additional 2,556 shares during the last quarter. Finally, Novem Group bought a new stake in AT&T in the fourth quarter valued at about $743,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.1%

T opened at $29.21 on Friday. The stock’s fifty day moving average is $28.41 and its 200-day moving average is $27.79. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a market capitalization of $208.83 billion, a PE ratio of 16.59, a P/E/G ratio of 3.65 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T’s dividend payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. Scotiabank lifted their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

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.