Mitsubishi UFJ Trust & Banking Corp Reduces Stake in AT&T Inc. $T

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of AT&T Inc. (NYSE:T) by 8.5% in the second quarter, Holdings Channel reports. The fund owned 6,640,331 shares of the technology company’s stock after selling 620,512 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in AT&T were worth $192,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in AT&T in the first quarter worth $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the 2nd quarter valued at $26,000. Solstein Capital LLC grew its stake in shares of AT&T by 217.3% during 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 during the period. Kennebec Savings Bank increased its holdings in 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 during the last quarter. Finally, Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% in 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. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on T. Morgan Stanley increased their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Barclays lowered their target price on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.64.

AT&T Price Performance

Shares of NYSE:T opened at $25.19 on Wednesday. The company has a 50 day moving average of $26.97 and a 200 day moving average of $27.60. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a market cap of $178.55 billion, a P/E ratio of 8.18, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal 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 paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.4%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

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.