Beaton Management Co. Inc. Has $962,000 Holdings in AT&T Inc. (NYSE:T)

Beaton Management Co. Inc. trimmed its position in AT&T Inc. (NYSE:T) by 2.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 50,319 shares of the technology company’s stock after selling 1,435 shares during the period. Beaton Management Co. Inc.’s holdings in AT&T were worth $962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Mercer Global Advisors Inc. ADV raised its position in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of AT&T in the 4th quarter worth about $152,109,000. Bank of New York Mellon Corp increased its position in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Point72 Asset Management L.P. increased its stake in AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after purchasing an additional 4,970,954 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its holdings in shares of AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI boosted their price objective on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.31.

AT&T Trading Down 1.7 %

AT&T stock opened at $21.35 on Friday. The stock has a market cap of $153.08 billion, a P/E ratio of 11.48, a P/E/G ratio of 3.79 and a beta of 0.59. The company’s fifty day simple moving average is $19.82 and its 200-day simple moving average is $18.30. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34. 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 (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, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.20%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

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.