Probity Advisors Inc. Lowers Holdings in AT&T Inc. $T

Probity Advisors Inc. decreased its stake in AT&T Inc. (NYSE:T) by 4.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,902 shares of the technology company’s stock after selling 1,584 shares during the quarter. Probity Advisors Inc.’s holdings in AT&T were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Triton Financial Group Inc acquired a new position in AT&T in the 2nd quarter worth about $609,000. VCI Wealth Management LLC raised its holdings in AT&T by 11.9% in the 2nd quarter. VCI Wealth Management LLC now owns 52,688 shares of the technology company’s stock worth $1,525,000 after purchasing an additional 5,604 shares during the period. Klingman & Associates LLC raised its holdings in AT&T by 47.9% in the 2nd quarter. Klingman & Associates LLC now owns 19,097 shares of the technology company’s stock worth $553,000 after purchasing an additional 6,186 shares during the period. Phoenix Financial Ltd. raised its holdings in AT&T by 189.1% in the 2nd quarter. Phoenix Financial Ltd. now owns 71,862 shares of the technology company’s stock worth $2,079,000 after purchasing an additional 47,001 shares during the period. Finally, Berkeley Capital Partners LLC raised its holdings in AT&T by 227.4% in the 2nd quarter. Berkeley Capital Partners LLC now owns 68,943 shares of the technology company’s stock worth $1,995,000 after purchasing an additional 47,886 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $26.08 on Tuesday. The business has a 50 day simple moving average of $28.23 and a two-hundred day simple moving average of $27.80. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The stock has a market capitalization of $186.45 billion, a P/E ratio of 14.82, a PEG ratio of 2.13 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio is 63.07%.

Analysts Set New Price Targets

A number of research firms recently weighed in on T. Barclays reaffirmed an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Sanford C. Bernstein upped their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Finally, UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.65.

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.