AT&T Inc. $T Position Lowered by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its position in AT&T Inc. (NYSE:T) by 24.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 489,885 shares of the technology company’s stock after selling 162,247 shares during the period. Logan Capital Management Inc.’s holdings in AT&T were worth $14,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. Denali Advisors LLC raised its position in shares of AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after acquiring an additional 22,394 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. bought a new stake in AT&T during the second quarter valued at $489,000. Sentry Investment Management LLC raised its holdings in shares of AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after purchasing an additional 13,370 shares during the period. Finally, ASR Vermogensbeheer N.V. lifted its position in shares of AT&T by 1.4% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Thursday, July 24th. Wells Fargo & Company lowered their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Williams Trading set a $33.00 price objective on shares of AT&T in a research report on Thursday. Finally, Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Performance

Shares of T opened at $25.50 on Tuesday. The firm has a market capitalization of $182.35 billion, a PE ratio of 8.28, a P/E/G ratio of 2.03 and a beta of 0.42. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $27.90 and a 200 day moving average price of $27.76. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share 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. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

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.