Securian Asset Management Inc. Cuts Holdings in AT&T Inc. $T

Securian Asset Management Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,207 shares of the technology company’s stock after selling 4,034 shares during the period. Securian Asset Management Inc.’s holdings in AT&T were worth $10,887,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. David J Yvars Group lifted its holdings in shares of AT&T by 2.8% in the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after acquiring an additional 372 shares during the last quarter. AllSquare Wealth Management LLC lifted its holdings in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after acquiring an additional 378 shares during the last quarter. Barnes Wealth Management Group Inc lifted its holdings in shares of AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after acquiring an additional 380 shares during the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of AT&T by 0.8% in the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after acquiring an additional 381 shares during the last quarter. Finally, James J. Burns & Company LLC lifted its holdings in shares of AT&T by 1.0% in the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock valued at $1,168,000 after acquiring an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on T. Sanford C. Bernstein increased their price target 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. Barclays reissued an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a research note on Wednesday, October 1st. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.65.

AT&T Stock Performance

Shares of T stock opened at $26.08 on Tuesday. The firm has a market cap of $186.45 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.13 and a beta of 0.42. The company’s 50 day moving average is $28.23 and its 200 day moving average is $27.80. 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 Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (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 business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

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.