AT&T Inc. $T Holdings Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 1.5% in the 2nd quarter, Holdings Channel reports. The firm owned 929,237 shares of the technology company’s stock after selling 14,559 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AT&T were worth $26,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in AT&T in the first quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the 2nd quarter valued at about $26,000. Kennebec Savings Bank boosted its stake in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Hager Investment Management Services LLC grew its position in 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 purchasing an additional 641 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of AT&T in the first quarter valued at approximately $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.5%

Shares of AT&T stock opened at $26.33 on Friday. The business has a fifty day simple moving average of $28.27 and a 200-day simple moving average of $27.81. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a market cap of $188.24 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings results 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 net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.2%. AT&T’s dividend payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Bank of America started coverage on AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $30.65.

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.