AT&T Inc. $T Position Reduced by Americana Partners LLC

Americana Partners LLC trimmed its position in AT&T Inc. (NYSE:T) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 754,546 shares of the technology company’s stock after selling 4,632 shares during the period. Americana Partners LLC’s holdings in AT&T were worth $21,837,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in AT&T during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the second quarter worth $26,000. Solstein Capital LLC boosted its position in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares during the period. Kennebec Savings Bank grew its holdings in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Finally, Hager Investment Management Services LLC raised its position in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. Wall Street Zen lowered AT&T from a “buy” rating to a “hold” rating in a research report on Saturday. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Royal Bank Of Canada lowered their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Finally, HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

AT&T Stock Up 0.3%

T stock opened at $24.81 on Monday. The firm has a market cap of $175.85 billion, a PE ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a fifty day simple moving average of $27.14 and a 200 day simple moving average of $27.63. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its 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 in the prior year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

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.