National Pension Service Sells 20,431 Shares of AT&T Inc. $T

National Pension Service lessened its stake in AT&T Inc. (NYSE:T) by 0.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,270,803 shares of the technology company’s stock after selling 20,431 shares during the quarter. National Pension Service’s holdings in AT&T were worth $470,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. VeraBank N.A. lifted its position in AT&T by 6.1% in the 2nd quarter. VeraBank N.A. now owns 17,518 shares of the technology company’s stock valued at $507,000 after acquiring an additional 1,009 shares in the last quarter. PCG Asset Management LLC acquired a new stake in shares of AT&T in the 2nd quarter valued at about $210,000. Blackston Financial Advisory Group LLC raised its stake in shares of AT&T by 16.8% in the 2nd quarter. Blackston Financial Advisory Group LLC now owns 22,837 shares of the technology company’s stock valued at $661,000 after purchasing an additional 3,277 shares during the period. 49 Wealth Management LLC lifted its holdings in shares of AT&T by 12.8% in the second quarter. 49 Wealth Management LLC now owns 26,768 shares of the technology company’s stock valued at $775,000 after purchasing an additional 3,038 shares in the last quarter. Finally, Aspen Wealth Strategies LLC boosted its position in shares of AT&T by 4.1% during the second quarter. Aspen Wealth Strategies LLC now owns 11,806 shares of the technology company’s stock worth $342,000 after buying an additional 463 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. Barclays dropped their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. UBS Group reissued a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Royal Bank Of Canada decreased their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.64.

AT&T Price Performance

NYSE:T opened at $25.19 on Wednesday. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. 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 firm has a fifty day simple moving average of $26.97 and a 200 day simple moving average of $27.60. The stock has a market capitalization of $178.55 billion, a PE ratio of 8.18, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last posted its quarterly 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. The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 36.04%.

About AT&T

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.