AT&T Inc. $T Position Reduced by Olympiad Research LP

Olympiad Research LP reduced its position in AT&T Inc. (NYSE:T) by 37.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,342 shares of the technology company’s stock after selling 4,465 shares during the period. Olympiad Research LP’s holdings in AT&T were worth $212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the second quarter valued at approximately $26,000. Solstein Capital LLC lifted its position in shares of AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Kennebec Savings Bank raised its stake 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 worth $28,000 after buying an additional 783 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in AT&T in the first quarter valued at $29,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Tuesday. Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Price Performance

Shares of AT&T stock opened at $25.58 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm’s 50-day simple moving average is $26.75 and its 200-day simple moving average is $27.56. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The firm has a market cap of $181.31 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio (DPR) is currently 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.