Gifford Fong Associates Has $2.71 Million Holdings in AT&T Inc. $T

Gifford Fong Associates lessened its stake in shares of AT&T Inc. (NYSE:T) by 34.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,689 shares of the technology company’s stock after selling 50,000 shares during the quarter. Gifford Fong Associates’ holdings in AT&T were worth $2,711,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Stablepoint Partners LLC lifted its holdings in shares of AT&T by 0.9% during the second quarter. Stablepoint Partners LLC now owns 248,178 shares of the technology company’s stock valued at $7,182,000 after acquiring an additional 2,239 shares during the period. Legacy Capital Wealth Partners LLC grew its holdings in shares of AT&T by 6.8% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 27,868 shares of the technology company’s stock worth $807,000 after purchasing an additional 1,781 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of AT&T by 2.6% during the 2nd quarter. New York State Common Retirement Fund now owns 8,770,677 shares of the technology company’s stock worth $253,823,000 after purchasing an additional 222,600 shares in the last quarter. West Family Investments Inc. lifted its holdings in AT&T by 24.7% during the 2nd quarter. West Family Investments Inc. now owns 47,328 shares of the technology company’s stock valued at $1,370,000 after purchasing an additional 9,367 shares during the last quarter. Finally, Williamson Legacy Group LLC boosted its position in AT&T by 368.9% in the second quarter. Williamson Legacy Group LLC now owns 47,644 shares of the technology company’s stock valued at $1,379,000 after buying an additional 37,484 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.7%

Shares of T opened at $25.99 on Friday. The business’s fifty day moving average price is $26.02 and its two-hundred day moving average price is $27.43. The firm has a market capitalization of $184.25 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio is presently 36.04%.

Analyst Ratings Changes

Several analysts have weighed in on T shares. Wall Street Zen cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company dropped their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Sanford C. Bernstein increased their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

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.