Rhumbline Advisers Reduces Position in AT&T Inc. $T

Rhumbline Advisers lowered its holdings in AT&T Inc. (NYSE:T) by 1.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,761,145 shares of the technology company’s stock after selling 188,352 shares during the period. Rhumbline Advisers owned about 0.18% of AT&T worth $369,308,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares in the last quarter. PFG Advisors increased its position in shares of AT&T by 3.2% in the 1st quarter. PFG Advisors now owns 30,801 shares of the technology company’s stock worth $871,000 after purchasing an additional 945 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of AT&T in the 1st quarter valued at about $29,000. Burney Co. raised its stake in shares of AT&T by 34.2% in the 1st quarter. Burney Co. now owns 52,393 shares of the technology company’s stock valued at $1,482,000 after purchasing an additional 13,350 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of AT&T by 78.0% during the first quarter. Carnegie Investment Counsel now owns 21,404 shares of the technology company’s stock worth $576,000 after purchasing an additional 9,379 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.6%

Shares of NYSE T opened at $25.94 on Friday. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a market cap of $183.90 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. 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’s 50 day simple moving average is $26.37 and its 200 day simple moving average is $27.49.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share 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 return on equity of 12.72% and a net margin of 17.87%.The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company 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. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 36.04%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on T. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Tuesday, November 11th. Wells Fargo & Company lowered their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Finally, Williams Trading set a $33.00 target price on shares of AT&T in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

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.