Morningstar Investment Management LLC Has $916,000 Position in AT&T Inc. $T

Morningstar Investment Management LLC reduced its holdings in AT&T Inc. (NYSE:T) by 14.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,650 shares of the technology company’s stock after selling 5,482 shares during the period. Morningstar Investment Management LLC’s holdings in AT&T were worth $916,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Stone House Investment Management LLC acquired a new position in shares of AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T during the 2nd quarter worth about $26,000. Kennebec Savings Bank increased its stake in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares during the last quarter. Hager Investment Management Services LLC increased its stake in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in shares of AT&T during the 1st quarter worth about $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T stock opened at $25.57 on Tuesday. The company has a market capitalization of $182.80 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.10 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a 50-day simple moving average of $28.41 and a 200 day simple moving average of $27.86. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

AT&T (NYSE:T) last announced its 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. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s payout ratio is currently 63.07%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on T shares. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.75.

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.