AT&T Inc. $T Shares Sold by Gables Capital Management Inc.

Gables Capital Management Inc. lessened its position in AT&T Inc. (NYSE:T) by 12.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,024 shares of the technology company’s stock after selling 4,950 shares during the period. Gables Capital Management Inc.’s holdings in AT&T were worth $1,014,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the 2nd quarter worth about $26,000. Kennebec Savings Bank increased its holdings in shares of 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 acquiring an additional 783 shares during the period. Hager Investment Management Services LLC increased its holdings in shares of 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 acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. acquired a new stake in shares of AT&T in the 1st quarter worth about $29,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $26.01 on Wednesday. AT&T Inc. has a twelve month low of $21.05 and a twelve 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 company has a 50-day moving average of $28.18 and a 200-day moving average of $27.78. The firm has a market cap of $185.98 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share 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 company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed 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 is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on T. Wells Fargo & Company dropped their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Sanford C. Bernstein increased their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.65.

AT&T 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.