CMG Global Holdings LLC Has $366,000 Stake in AT&T Inc. $T

CMG Global Holdings LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,249 shares of the technology company’s stock after selling 772 shares during the period. CMG Global Holdings LLC’s holdings in AT&T were worth $366,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC bought a new stake in AT&T in the second quarter worth approximately $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T during the 1st quarter worth approximately $1,072,128,000. GQG Partners LLC grew its position in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board increased its stake in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after acquiring an additional 8,841,126 shares during the period. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Scotiabank set a $30.25 target price on AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. upped their price target on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. UBS Group set a $33.00 price objective on AT&T in a research note on Thursday, September 18th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. 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 presently has an average rating of “Moderate Buy” and an average target price of $30.65.

AT&T Price Performance

T stock opened at $26.33 on Monday. 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 business has a 50-day simple moving average of $28.27 and a two-hundred day simple moving average of $27.80. The company has a market capitalization 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 Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

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

AT&T Dividend Announcement

The company 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 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.