Foster & Motley Inc. Lowers Stock Holdings in AT&T Inc. $T

Foster & Motley Inc. reduced its position in AT&T Inc. (NYSE:T) by 1.5% in the 2nd quarter, Holdings Channel reports. The fund owned 157,354 shares of the technology company’s stock after selling 2,462 shares during the period. Foster & Motley Inc.’s holdings in AT&T were worth $4,554,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. acquired a new position in shares of AT&T during the 2nd quarter valued at $489,000. ASR Vermogensbeheer N.V. lifted its holdings in shares of AT&T by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after acquiring an additional 9,970 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of AT&T by 180.5% during the 2nd quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock valued at $3,302,000 after acquiring an additional 73,417 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after acquiring an additional 102,419 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $26.33 on Friday. The company has a 50-day moving average price of $28.27 and a two-hundred day moving average price of $27.81. 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 stock has a market cap of $188.24 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Scotiabank set a $30.25 price objective on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.65.

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.