First Dallas Securities Inc. Sells 6,346 Shares of AT&T Inc. $T

First Dallas Securities Inc. trimmed its position in AT&T Inc. (NYSE:T) by 6.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 85,338 shares of the technology company’s stock after selling 6,346 shares during the period. AT&T comprises approximately 1.0% of First Dallas Securities Inc.’s holdings, making the stock its 29th biggest holding. First Dallas Securities Inc.’s holdings in AT&T were worth $2,470,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in AT&T by 19.5% in the 2nd quarter. Allworth Financial LP now owns 1,766,096 shares of the technology company’s stock valued at $51,111,000 after purchasing an additional 288,081 shares during the period. Addison Advisors LLC raised its position in shares of AT&T by 17.1% in the second quarter. Addison Advisors LLC now owns 10,477 shares of the technology company’s stock worth $303,000 after buying an additional 1,530 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of AT&T by 1.9% in the second quarter. Illinois Municipal Retirement Fund now owns 1,571,388 shares of the technology company’s stock worth $45,476,000 after buying an additional 28,921 shares in the last quarter. Altman Advisors Inc. boosted its stake in AT&T by 1.9% during the second quarter. Altman Advisors Inc. now owns 67,368 shares of the technology company’s stock valued at $1,946,000 after buying an additional 1,231 shares during the period. Finally, Fountainhead AM LLC boosted its stake in AT&T by 23.7% during the second quarter. Fountainhead AM LLC now owns 10,497 shares of the technology company’s stock valued at $304,000 after buying an additional 2,009 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several recent analyst reports. Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Williams Trading set a $33.00 price target on shares of AT&T in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada lowered their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Up 0.3%

Shares of T opened at $24.81 on Monday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $27.14 and a two-hundred day simple moving average of $27.63. The firm has a market cap of $175.85 billion, a P/E ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last posted 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 the consensus estimate of $30.85 billion. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s payout ratio is currently 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.