MeadowBrook Investment Advisors LLC Cuts Stock Position in AT&T Inc. $T

MeadowBrook Investment Advisors LLC lessened its holdings in AT&T Inc. (NYSE:T) by 21.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,456 shares of the technology company’s stock after selling 1,200 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in AT&T were worth $129,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T during the 2nd quarter worth $26,000. Solstein Capital LLC increased its stake in AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares during the period. Kennebec Savings Bank increased 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 worth $28,000 after buying an additional 783 shares during the period. Finally, Hager Investment Management Services LLC increased its stake in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $25.13 on Thursday. The company has a 50-day moving average of $27.75 and a 200-day moving average of $27.74. The company has a market capitalization of $179.66 billion, a P/E ratio of 8.16, a PEG ratio of 2.21 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.38 and a 1-year 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 released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion during 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%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities analysts expect that AT&T Inc. will post 2.14 EPS 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 4.4%. AT&T’s payout ratio is presently 36.04%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on T shares. Morgan Stanley lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Cowen reaffirmed a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Finally, Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

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.