Addenda Capital Inc. Trims Position in AT&T Inc. (NYSE:T)

Addenda Capital Inc. lessened its stake in AT&T Inc. (NYSE:T) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 327,042 shares of the technology company’s stock after selling 914 shares during the period. Addenda Capital Inc.’s holdings in AT&T were worth $5,756,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc increased its stake in AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after buying an additional 598 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its position in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the period. JB Capital LLC increased its position in AT&T by 2.4% during the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after purchasing an additional 614 shares during the period. Fortitude Family Office LLC increased its position in AT&T by 1.5% during the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after purchasing an additional 614 shares during the period. Finally, Connecticut Wealth Management LLC increased its position in AT&T by 3.0% during the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after purchasing an additional 620 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $19.13 on Friday. The firm has a market cap of $137.17 billion, a PE ratio of 10.28, a PEG ratio of 4.26 and a beta of 0.60. The firm has a fifty day moving average of $17.57 and a 200 day moving average of $17.17. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a one year low of $13.43 and a one year high of $19.13.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The firm’s revenue was down .4% compared to the same quarter last year. As a group, research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on T shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Scotiabank lifted their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $21.71.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.