Huber Capital Management LLC Sells 29,859 Shares of AT&T Inc. (NYSE:T)

Huber Capital Management LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 465,985 shares of the technology company’s stock after selling 29,859 shares during the quarter. AT&T makes up about 2.0% of Huber Capital Management LLC’s portfolio, making the stock its 14th largest position. Huber Capital Management LLC’s holdings in AT&T were worth $8,905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of T. Riggs Asset Managment Co. Inc. lifted its holdings 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 purchasing an additional 1,116 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of AT&T during the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth about $25,000. American Capital Advisory LLC raised its holdings in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in 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 acquiring an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE T opened at $21.52 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $154.30 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The firm’s 50-day simple moving average is $19.88 and its two-hundred day simple moving average is $18.34.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm earned $0.63 EPS. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group reissued a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Evercore ISI increased their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Barclays increased their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.31.

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.