Strs Ohio trimmed its position in shares of AT&T Inc. (NYSE:T) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,927,448 shares of the technology company’s stock after selling 198,090 shares during the period. AT&T accounts for approximately 0.8% of Strs Ohio’s portfolio, making the stock its 19th largest holding. Strs Ohio owned 0.08% of AT&T worth $185,912,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ullmann Financial Group Inc. bought a new position in AT&T during the first quarter valued at $101,000. Feltz Wealth PLAN Inc. bought a new position in AT&T during the first quarter valued at $104,000. Taylor Wealth Management Partners grew its holdings in AT&T by 0.4% during the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after purchasing an additional 11 shares during the period. Almanack Investment Partners LLC. bought a new position in AT&T during the first quarter valued at $109,000. Finally, Sterling Investment Advisors Ltd. grew its holdings in AT&T by 289.1% during the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after purchasing an additional 2,024 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.
AT&T Inc. (T) opened at 38.50 on Wednesday. AT&T Inc. has a 52 week low of $35.10 and a 52 week high of $43.03. The stock’s 50 day moving average price is $37.87 and its 200-day moving average price is $38.46. The company has a market capitalization of $236.39 billion, a PE ratio of 18.09 and a beta of 0.49.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05. The business had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. On average, equities research analysts predict that AT&T Inc. will post $2.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 5.09%. The ex-dividend date is Friday, October 6th. AT&T’s payout ratio is currently 92.45%.
Several research firms have issued reports on T. Vetr downgraded AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 target price on the stock. in a research report on Friday, October 6th. Morgan Stanley increased their target price on AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 27th. Robert W. Baird restated an “outperform” rating and set a $43.00 target price on shares of AT&T in a research report on Thursday, September 21st. Macquarie restated a “buy” rating and set a $43.00 target price on shares of AT&T in a research report on Friday, September 1st. Finally, Jefferies Group LLC restated a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $43.87.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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