British Airways Pensions Investment Management Ltd lowered its position in shares of AT&T Inc. (NYSE:T) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 410,021 shares of the technology company’s stock after selling 76,644 shares during the quarter. British Airways Pensions Investment Management Ltd’s holdings in AT&T were worth $15,515,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Grimes & Company Inc. boosted its holdings in shares of AT&T by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock valued at $1,132,000 after buying an additional 294 shares during the last quarter. Interactive Financial Advisors lifted its holdings in AT&T by 16.7% during the 2nd quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after purchasing an additional 300 shares during the last quarter. D.B. Root & Company LLC lifted its holdings in AT&T by 0.9% during the 3rd quarter. D.B. Root & Company LLC now owns 34,925 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 303 shares during the last quarter. Donald L. Hagan LLC lifted its holdings in AT&T by 1.5% during the 3rd quarter. Donald L. Hagan LLC now owns 20,988 shares of the technology company’s stock valued at $793,000 after purchasing an additional 304 shares during the last quarter. Finally, Berkshire Money Management Inc. lifted its holdings in AT&T by 3.2% during the 2nd quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after purchasing an additional 305 shares during the last quarter. 52.94% of the stock is owned by hedge funds and other institutional investors.
T stock opened at $39.25 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.74 and a quick ratio of 0.71. The stock has a market capitalization of $286.80 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 2.45 and a beta of 0.64. The business’s fifty day moving average price is $37.77 and its two-hundred day moving average price is $34.38. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $39.50.
AT&T (NYSE:T) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.01. The firm had revenue of $44.59 billion for the quarter, compared to analysts’ expectations of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 EPS. Research analysts expect that AT&T Inc. will post 3.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend was Wednesday, October 9th. AT&T’s payout ratio is 57.95%.
Several brokerages have issued reports on T. ValuEngine downgraded AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Cowen set a $40.00 price target on AT&T and gave the company a “buy” rating in a report on Friday, September 6th. Sanford C. Bernstein began coverage on AT&T in a report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price target for the company. Barclays raised their price target on AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $37.00 price target on AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. AT&T currently has an average rating of “Hold” and a consensus price target of $38.90.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
Recommended Story: Operating Income
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.