Associated Banc Corp Trims Stock Holdings in AT&T Inc. $T

Associated Banc Corp lowered its position in shares of AT&T Inc. (NYSE:T) by 10.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 68,657 shares of the technology company’s stock after selling 7,879 shares during the quarter. Associated Banc Corp’s holdings in AT&T were worth $1,987,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Denali Advisors LLC boosted its stake in shares of AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after buying an additional 22,394 shares during the last quarter. Tredje AP fonden raised its position in AT&T by 1.8% during the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after acquiring an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its holdings in AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after acquiring an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new stake in AT&T in the 2nd quarter worth approximately $489,000. Finally, Sentry Investment Management LLC boosted its position in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after purchasing an additional 13,370 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $25.82 on Wednesday. The firm’s fifty day simple moving average is $26.22 and its two-hundred day simple moving average is $27.45. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company has a market cap of $183.04 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 2.16 and a beta of 0.40. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a $0.2775 dividend. 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 (DPR) is 36.04%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on T. UBS Group reaffirmed a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, KeyCorp raised shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average 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.