First Dallas Securities Inc. Sells 6,346 Shares of AT&T Inc. $T

First Dallas Securities Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,338 shares of the technology company’s stock after selling 6,346 shares during the period. AT&T comprises 1.0% of First Dallas Securities Inc.’s investment portfolio, making the stock its 29th biggest holding. First Dallas Securities Inc.’s holdings in AT&T were worth $2,470,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in T. Stone House Investment Management LLC purchased a new position in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC boosted its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the last quarter. Kennebec Savings Bank grew its stake in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Solstein Capital LLC grew its stake in shares of AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $24.81 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market capitalization of $175.85 billion, a PE ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The business’s fifty day moving average price is $27.14 and its 200-day moving average price is $27.63.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is 36.04%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on T. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. UBS Group restated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

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.