Fisher Asset Management LLC Lowers Stake in AT&T Inc. $T

Fisher Asset Management LLC cut its stake in AT&T Inc. (NYSE:T) by 34.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,412 shares of the technology company’s stock after selling 63,383 shares during the period. Fisher Asset Management LLC’s holdings in AT&T were worth $3,485,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in shares of AT&T in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the 2nd quarter worth approximately $26,000. Kennebec Savings Bank boosted its stake in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares in the last quarter. Solstein Capital LLC grew its position in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the last quarter. Finally, Curio Wealth LLC raised its stake in shares of AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T opened at $25.39 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $25.77 and a 200-day moving average price of $27.38. The company has a market cap of $179.97 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.38. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

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

AT&T Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on T shares. Williams Trading set a $33.00 price objective on shares of AT&T in a research note on Thursday, October 23rd. Wells Fargo & Company cut their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.64.

About AT&T

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.