Symons Capital Management Inc. lowered its position in shares of AT&T Inc. (NYSE:T) by 9.2% during the third quarter, HoldingsChannel reports. The fund owned 154,117 shares of the technology company’s stock after selling 15,663 shares during the quarter. AT&T comprises about 2.7% of Symons Capital Management Inc.’s portfolio, making the stock its 15th largest holding. Symons Capital Management Inc.’s holdings in AT&T were worth $5,832,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in AT&T by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after buying an additional 6,744,699 shares during the period. Northern Trust Corp lifted its holdings in AT&T by 2.0% during the 2nd quarter. Northern Trust Corp now owns 86,817,291 shares of the technology company’s stock worth $2,909,247,000 after buying an additional 1,729,145 shares during the period. Bank of New York Mellon Corp lifted its holdings in AT&T by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,529,809 shares of the technology company’s stock worth $2,296,433,000 after buying an additional 2,201,538 shares during the period. Morgan Stanley lifted its holdings in AT&T by 11.2% during the 2nd quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after buying an additional 5,931,167 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in AT&T by 1,723.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after buying an additional 43,525,113 shares during the period. Institutional investors and hedge funds own 52.94% of the company’s stock.
Several research analysts have commented on T shares. Royal Bank of Canada lifted their target price on AT&T from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday. Morgan Stanley set a $37.00 target price on AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. SunTrust Banks lifted their target price on AT&T to $36.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. Standpoint Research downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Desjardins reaffirmed an “average” rating and set a $55.50 target price on shares of AT&T in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.74.
Shares of NYSE:T traded down $0.04 during midday trading on Friday, reaching $39.38. The company’s stock had a trading volume of 18,270,257 shares, compared to its average volume of 30,604,307. The firm has a market capitalization of $287.75 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.47 and a beta of 0.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.74. The firm has a 50 day moving average price of $37.87 and a two-hundred day moving average price of $34.45. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $39.58.
AT&T (NYSE:T) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The company had revenue of $44.59 billion for the quarter, compared to the consensus estimate of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. As a group, research analysts anticipate that AT&T Inc. will post 3.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date was Wednesday, October 9th. AT&T’s dividend payout ratio is 57.95%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
Further Reading: What is the price-to-earnings growth (PEG) ratio?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.