TD Asset Management Inc Sells 624,006 Shares of AT&T Inc. $T

TD Asset Management Inc lessened its holdings in shares of AT&T Inc. (NYSE:T) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,164,209 shares of the technology company’s stock after selling 624,006 shares during the period. TD Asset Management Inc owned 0.09% of AT&T worth $178,392,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC bought a new position in AT&T in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in AT&T in the 2nd quarter worth about $26,000. Kennebec Savings Bank boosted its stake in AT&T by 412.1% in 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 in the last quarter. Hager Investment Management Services LLC boosted its stake in AT&T by 182.1% in 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 in the last quarter. Finally, IMA Advisory Services Inc. bought a new position in AT&T in the 1st quarter worth about $29,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays reiterated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research note on Wednesday, October 1st. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Wells Fargo & Company upped their target price on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.75.

AT&T Price Performance

NYSE T opened at $26.12 on Wednesday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a market capitalization of $186.74 billion, a P/E ratio of 14.84, a PEG ratio of 2.07 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $28.37 and a 200-day moving average price of $27.85.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio is presently 63.07%.

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.