Hodges Capital Management Inc. Sells 961 Shares of AT&T Inc. (NYSE:T)

Hodges Capital Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 2.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,242 shares of the technology company’s stock after selling 961 shares during the quarter. Hodges Capital Management Inc.’s holdings in AT&T were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of T. Pineridge Advisors LLC purchased a new stake in AT&T in the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC purchased a new stake in AT&T in the fourth quarter worth about $25,000. Ramirez Asset Management Inc. purchased a new stake in AT&T in the third quarter worth about $30,000. Western Pacific Wealth Management LP purchased a new stake in AT&T in the fourth quarter worth about $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its position in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on T. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. UBS Group reiterated a “buy” rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Oppenheimer reiterated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research report on Tuesday, June 25th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

AT&T Stock Performance

NYSE T opened at $19.11 on Friday. The stock has a market capitalization of $137.02 billion, a PE ratio of 10.27, a P/E/G ratio of 4.34 and a beta of 0.60. The business has a 50 day simple moving average of $17.57 and a two-hundred day simple moving average of $17.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.13.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

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.