Waters Parkerson & CO. LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Waters Parkerson & CO. LLC lessened its stake in AT&T Inc. (NYSE:T) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,749 shares of the technology company’s stock after selling 3,283 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in AT&T were worth $1,830,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in T. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in AT&T during the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC purchased a new position in AT&T during the fourth quarter worth about $25,000. American Capital Advisory LLC boosted its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Stock Performance

Shares of T stock opened at $21.35 on Friday. The firm has a 50 day moving average of $19.82 and a two-hundred day moving average of $18.30. The stock has a market capitalization of $153.08 billion, a PE ratio of 11.48, a P/E/G ratio of 3.79 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the business posted $0.63 earnings per share. AT&T’s revenue was down .3% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.20%. 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.