AT&T Inc. (NYSE:T) Shares Sold by BancFirst Trust & Investment Management

BancFirst Trust & Investment Management cut its stake in AT&T Inc. (NYSE:T) by 37.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,445 shares of the technology company’s stock after selling 6,146 shares during the quarter. BancFirst Trust & Investment Management’s holdings in AT&T were worth $229,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T in the 2nd quarter valued at about $23,888,000. Mackenzie Financial Corp increased its position in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares in the last quarter. DRW Securities LLC increased its position in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after buying an additional 43,062 shares during the period. Finally, M&G Plc acquired a new stake in AT&T in the 1st quarter valued at $9,074,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.3 %

Shares of AT&T stock opened at $22.20 on Thursday. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34. The company has a 50 day moving average of $20.35 and a 200 day moving average of $18.60. 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 capitalization of $159.14 billion, a P/E ratio of 11.93, a P/E/G ratio of 3.75 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the previous year, the business earned $0.63 EPS. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Barclays increased their target price 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

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.