Round Hill Asset Management lowered its holdings in shares of AT&T Inc. (NYSE:T) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,007 shares of the technology company’s stock after selling 939 shares during the quarter. AT&T comprises about 2.0% of Round Hill Asset Management’s investment portfolio, making the stock its 13th biggest position. Round Hill Asset Management’s holdings in AT&T were worth $3,223,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in T. Newport Trust Co raised its holdings in AT&T by 1.7% in the 2nd quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock worth $6,075,279,000 after acquiring an additional 3,397,127 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of AT&T by 102.9% in the second quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock worth $1,504,524,000 after buying an additional 25,658,276 shares during the last quarter. LSV Asset Management boosted its holdings in AT&T by 14.8% in the second quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock worth $843,455,000 after purchasing an additional 3,606,476 shares during the period. California Public Employees Retirement System boosted its holdings in AT&T by 1.8% in the third quarter. California Public Employees Retirement System now owns 27,847,778 shares of the technology company’s stock worth $793,940,000 after purchasing an additional 496,199 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in AT&T by 0.9% in the second quarter. Macquarie Group Ltd. now owns 21,778,950 shares of the technology company’s stock worth $658,113,000 after purchasing an additional 199,575 shares during the period. 52.29% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the stock. Wells Fargo & Company reissued an “underweight” rating and set a $25.00 price target on shares of AT&T in a report on Monday, November 16th. Barclays assumed coverage on shares of AT&T in a report on Friday, October 2nd. They set an “overweight” rating for the company. Scotiabank downgraded shares of AT&T from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $34.00 to $30.00 in a report on Monday, August 31st. KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a report on Monday, October 5th. Finally, Wolfe Research assumed coverage on shares of AT&T in a report on Monday, October 19th. They set a “peer perform” rating and a $31.00 price target for the company. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.50.
AT&T stock opened at $28.83 on Monday. The company has a 50 day moving average price of $27.91 and a 200 day moving average price of $29.33. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.55. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $206.87 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.52 and a beta of 0.69.
AT&T (NYSE:T) last posted its quarterly earnings data on Thursday, October 22nd. The technology company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The firm had revenue of $42.43 billion during the quarter, compared to analyst estimates of $41.66 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 EPS. Equities analysts forecast that AT&T Inc. will post 3.2 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date was Thursday, October 8th. AT&T’s dividend payout ratio (DPR) is currently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
Further Reading: What is the Coverage Ratio?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.