Callahan Advisors LLC Sells 19,978 Shares of AT&T Inc. $T

Callahan Advisors LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 280,938 shares of the technology company’s stock after selling 19,978 shares during the quarter. Callahan Advisors LLC’s holdings in AT&T were worth $8,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Uptick Partners LLC boosted its stake in AT&T by 9.4% during the 2nd quarter. Uptick Partners LLC now owns 8,468 shares of the technology company’s stock worth $245,000 after acquiring an additional 729 shares during the last quarter. Duncker Streett & Co. Inc. boosted its stake in AT&T by 135.1% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 20,212 shares of the technology company’s stock worth $585,000 after acquiring an additional 11,613 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in AT&T by 79.8% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 13,404 shares of the technology company’s stock worth $388,000 after acquiring an additional 5,948 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in AT&T by 0.4% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 789,082 shares of the technology company’s stock worth $22,836,000 after acquiring an additional 2,947 shares during the last quarter. Finally, Mutual Advisors LLC boosted its holdings in shares of AT&T by 0.4% in the second quarter. Mutual Advisors LLC now owns 231,744 shares of the technology company’s stock valued at $6,489,000 after buying an additional 998 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $26.07 on Thursday. The company’s fifty day simple moving average is $28.34 and its 200-day simple moving average is $27.84. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm has a market cap of $186.43 billion, a PE ratio of 14.81, a P/E/G ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on T shares. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. UBS Group set a $33.00 price target on shares of AT&T in a report on Thursday, September 18th. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.75.

AT&T Company 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.