Elo Mutual Pension Insurance Co trimmed its holdings in shares of AT&T Inc. (NYSE:T – Free Report) by 1.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 643,454 shares of the technology company’s stock after selling 9,856 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in AT&T were worth $12,296,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Frank Rimerman Advisors LLC purchased a new position in AT&T in the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC purchased a new stake in AT&T during the 4th quarter worth about $25,000. Strategic Financial Concepts LLC boosted its stake in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.
AT&T Stock Performance
AT&T stock opened at $21.78 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $156.17 billion, a P/E ratio of 11.71, a P/E/G ratio of 3.68 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The firm has a 50-day moving average of $19.72 and a 200-day moving average of $18.26.
AT&T Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.10%. AT&T’s payout ratio is 59.68%.
Analysts Set New Price Targets
T has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.31.
Read Our Latest Stock Report on T
AT&T Company 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.
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