AT&T Inc. $T Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,169 shares of the technology company’s stock after selling 2,064 shares during the period. Princeton Global Asset Management LLC’s holdings in AT&T were worth $439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in T. CHURCHILL MANAGEMENT Corp lifted its holdings in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. purchased a new position in shares of AT&T in the second quarter worth about $489,000. ASR Vermogensbeheer N.V. lifted its stake in shares of AT&T by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after buying an additional 9,970 shares in the last quarter. Simplicity Wealth LLC boosted its position in AT&T by 180.5% during the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock worth $3,302,000 after acquiring an additional 73,417 shares during the last quarter. Finally, Xponance Inc. grew its stake in AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after acquiring an additional 102,419 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. UBS Group set a $33.00 price objective on shares of AT&T in a research report on Thursday, September 18th. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $30.65.

AT&T Stock Up 0.5%

Shares of T opened at $26.33 on Monday. The company’s 50-day moving average price is $28.27 and its 200 day moving average price is $27.80. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market cap of $188.24 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given 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 4.2%. AT&T’s 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.