Holderness Investments Co. Sells 1,675 Shares of AT&T Inc. (NYSE:T)

Holderness Investments Co. lessened its stake in shares of AT&T Inc. (NYSE:T) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,952 shares of the technology company’s stock after selling 1,675 shares during the quarter. Holderness Investments Co.’s holdings in AT&T were worth $1,107,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. LSV Asset Management raised its holdings in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after acquiring an additional 315,580 shares during the last quarter. Pacer Advisors Inc. lifted its position in AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after acquiring an additional 675,082 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its stake in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.8 %

Shares of T opened at $21.54 on Friday. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The business has a 50-day moving average of $19.88 and a 200 day moving average of $18.34. The firm has a market cap of $154.45 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

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

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock 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.