AT&T Inc. $T Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC lowered its position in AT&T Inc. (NYSE:T) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,863 shares of the technology company’s stock after selling 3,552 shares during the period. Woodmont Investment Counsel LLC’s holdings in AT&T were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after acquiring an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in AT&T in the 2nd quarter worth approximately $5,266,758,000. GQG Partners LLC grew its holdings in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after buying an additional 1,307,009 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on T shares. Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their target price 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 report on Thursday, September 18th. Finally, 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 price target for the company. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Stock Down 4.4%

T stock opened at $25.88 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company’s 50 day simple moving average is $28.56 and its 200-day simple moving average is $27.92. The firm has a market capitalization of $185.05 billion, a PE ratio of 14.70, a P/E/G ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last released its 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. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio is presently 63.07%.

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.