Scotia Capital Inc. Has $15.28 Million Holdings in AT&T Inc. $T

Scotia Capital Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 12.4% during the second quarter, HoldingsChannel.com reports. The firm owned 528,116 shares of the technology company’s stock after selling 75,092 shares during the period. Scotia Capital Inc.’s holdings in AT&T were worth $15,283,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in AT&T by 7.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 970,772 shares of the technology company’s stock valued at $28,094,000 after buying an additional 67,195 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of AT&T by 90.7% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 400,531 shares of the technology company’s stock valued at $11,591,000 after acquiring an additional 190,482 shares in the last quarter. Groupama Asset Managment increased its position in shares of AT&T by 3.1% in the second quarter. Groupama Asset Managment now owns 278,067 shares of the technology company’s stock valued at $7,808,000 after acquiring an additional 8,465 shares during the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of AT&T by 42.6% in the second quarter. Elevation Point Wealth Partners LLC now owns 33,204 shares of the technology company’s stock valued at $961,000 after acquiring an additional 9,926 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. bought a new stake in AT&T during the second quarter worth about $2,796,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of analyst reports. TD Cowen raised their price target on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Wells Fargo & Company dropped their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.64.

AT&T Stock Up 0.7%

T opened at $25.99 on Friday. The stock’s fifty day simple moving average is $26.02 and its 200 day simple moving average is $27.42. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The stock has a market cap of $184.25 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

AT&T Company 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.