AT&T Inc. $T Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its stake in AT&T Inc. (NYSE:T) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,828,137 shares of the technology company’s stock after selling 345,497 shares during the quarter. Commonwealth Equity Services LLC’s holdings in AT&T were worth $110,786,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in AT&T in the 2nd quarter worth $5,266,758,000. GQG Partners LLC boosted its position in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after acquiring an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on T. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Scotiabank set a $30.25 target price on AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Royal Bank Of Canada decreased their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Finally, Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Stock Performance

AT&T stock opened at $24.74 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company has a fifty day moving average price of $27.23 and a two-hundred day moving average price of $27.63. The company has a market cap of $175.36 billion, a PE ratio of 8.03, 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company 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 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s dividend payout ratio is 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.