Conning Inc. Has $1.28 Million Stock Position in AT&T Inc. $T

Conning Inc. lowered its position in shares of AT&T Inc. (NYSE:T) by 23.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,132 shares of the technology company’s stock after selling 13,556 shares during the quarter. Conning Inc.’s holdings in AT&T were worth $1,277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the 2nd quarter worth about $5,266,758,000. Nuveen LLC bought a new stake in AT&T during the 1st quarter worth about $1,072,128,000. GQG Partners LLC lifted its position in AT&T by 17.7% during 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 purchasing an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board lifted its position in AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP lifted its position in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after purchasing an additional 8,841,126 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $25.85 on Friday. The stock has a market capitalization of $184.82 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.12 and a beta of 0.42. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a 50 day moving average of $28.45 and a 200-day moving average of $27.88. 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 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company 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%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays restated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. UBS Group set a $33.00 target price on shares of AT&T in a research report on Thursday, September 18th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, Bank of America started coverage on shares of AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. One equities 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.75.

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.