Tsfg LLC Trims Stake in AT&T Inc. (NYSE:T)

Tsfg LLC reduced its position in AT&T Inc. (NYSE:T) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,850 shares of the technology company’s stock after selling 666 shares during the quarter. Tsfg LLC’s holdings in AT&T were worth $131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in AT&T in the 4th quarter worth about $1,118,288,000. Thornburg Investment Management Inc. purchased a new position in shares of AT&T in the fourth quarter worth $316,472,000. Kodai Capital Management LP purchased a new position in shares of AT&T in the fourth quarter worth $152,109,000. Point72 Asset Management L.P. raised its holdings in shares of AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after buying an additional 4,970,954 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of AT&T by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after buying an additional 4,014,873 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on T. JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Royal Bank of Canada raised their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Finally, StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Price Performance

T traded up $0.08 on Wednesday, reaching $19.60. 19,154,233 shares of the company’s stock were exchanged, compared to its average volume of 36,418,266. The stock has a market cap of $140.54 billion, a PE ratio of 10.53, a P/E/G ratio of 3.28 and a beta of 0.58. AT&T Inc. has a twelve month low of $13.92 and a twelve month high of $19.99. The stock’s fifty day moving average price is $18.71 and its 200-day moving average price is $17.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the business posted $0.63 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.