Amundi Trims Holdings in AT&T Inc. $T

Amundi decreased its position in shares of AT&T Inc. (NYSE:T) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,255,164 shares of the technology company’s stock after selling 1,560,213 shares during the period. Amundi owned 0.35% of AT&T worth $714,974,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in T. J. L. Bainbridge & Co. Inc. raised its position in shares of AT&T by 1.7% during the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock valued at $615,000 after purchasing an additional 355 shares during the period. Roberts Glore & Co. Inc. IL boosted its holdings in AT&T by 2.0% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after buying an additional 357 shares during the period. Investment Partners LTD. increased its stake in AT&T by 3.5% in the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after buying an additional 357 shares in the last quarter. Parcion Private Wealth LLC raised its holdings in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after acquiring an additional 364 shares during the period. Finally, Texas Bank & Trust Co raised its holdings in AT&T by 0.6% during the second quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock valued at $1,860,000 after acquiring an additional 364 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Royal Bank Of Canada dropped their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $30.64.

AT&T Price Performance

T stock opened at $25.39 on Friday. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $25.77 and a two-hundred day simple moving average of $27.38. The firm has a market capitalization of $179.97 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.38.

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, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

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.