Advisors Asset Management Inc. Decreases Holdings in AT&T Inc. $T

Advisors Asset Management Inc. reduced its position in AT&T Inc. (NYSE:T) by 7.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,520,645 shares of the technology company’s stock after selling 114,745 shares during the period. AT&T makes up about 0.8% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position. Advisors Asset Management Inc.’s holdings in AT&T were worth $44,007,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of T. Brighton Jones LLC raised its position in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares during the period. LPL Financial LLC increased its stake in shares of AT&T by 1.2% in the 1st quarter. LPL Financial LLC now owns 10,276,324 shares of the technology company’s stock worth $290,614,000 after purchasing an additional 123,447 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in AT&T by 1,424.0% during the first quarter. University of Texas Texas AM Investment Management Co. now owns 175,473 shares of the technology company’s stock valued at $4,962,000 after purchasing an additional 163,959 shares in the last quarter. Vantage Financial Partners LLC grew its holdings in AT&T by 4.0% during the first quarter. Vantage Financial Partners LLC now owns 42,672 shares of the technology company’s stock valued at $1,207,000 after purchasing an additional 1,638 shares during the period. Finally, Prosperity Consulting Group LLC grew its holdings in AT&T by 0.8% during the first quarter. Prosperity Consulting Group LLC now owns 85,289 shares of the technology company’s stock valued at $2,412,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $25.60 on Tuesday. The company has a market cap of $181.49 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The stock’s 50 day simple moving average is $26.29 and its two-hundred day simple moving average is $27.46. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given 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 was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Barclays reduced their target price on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. TD Cowen lifted their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Finally, Wall Street Zen cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T 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.