Sicart Associates LLC Sells 3,960 Shares of AT&T Inc. $T

Sicart Associates LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,992 shares of the technology company’s stock after selling 3,960 shares during the quarter. Sicart Associates LLC’s holdings in AT&T were worth $3,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in T. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the second quarter valued at $5,266,758,000. Nuveen LLC bought a new position in AT&T during the 1st quarter worth about $1,072,128,000. GQG Partners LLC grew its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 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 $28.25 on Wednesday. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $202.00 billion, a PE ratio of 16.05, a P/E/G ratio of 3.59 and a beta of 0.44. The firm has a 50 day moving average of $28.64 and a two-hundred day moving average of $27.91.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the firm posted $0.51 EPS. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on T. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

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.