SBI Securities Co. Ltd. Sells 10,363 Shares of AT&T Inc. (NYSE:T)

SBI Securities Co. Ltd. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 529,321 shares of the technology company’s stock after selling 10,363 shares during the quarter. SBI Securities Co. Ltd.’s holdings in AT&T were worth $14,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Next Level Private LLC boosted its stake in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after purchasing an additional 379 shares during the period. Carolinas Wealth Consulting LLC boosted its stake in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after purchasing an additional 384 shares during the period. Kozak & Associates Inc. boosted its stake in AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after purchasing an additional 398 shares during the period. Silver Oak Securities Incorporated boosted its stake in AT&T by 0.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company’s stock valued at $3,222,000 after purchasing an additional 398 shares during the period. Finally, Firethorn Wealth Partners LLC boosted its stake in AT&T by 4.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock valued at $286,000 after purchasing an additional 399 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Bank of America assumed coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Oppenheimer boosted their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Barclays boosted their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Scotiabank upped their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.12.

AT&T Price Performance

Shares of T opened at $26.97 on Monday. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The business has a 50-day simple moving average of $27.82 and a two-hundred day simple moving average of $26.35. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock has a market cap of $194.07 billion, a PE ratio of 16.55, a PEG ratio of 3.37 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.12%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

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.