AT&T Inc. (NYSE:T) Shares Sold by United Services Automobile Association

United Services Automobile Association lessened its holdings in shares of AT&T Inc. (NYSE:T) by 2.6% in the second quarter, HoldingsChannel reports. The fund owned 201,730 shares of the technology company’s stock after selling 5,466 shares during the period. United Services Automobile Association’s holdings in AT&T were worth $3,855,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of T. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in AT&T during the fourth quarter worth approximately $11,554,000. Clearbridge Investments LLC lifted its holdings in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares during the period. Skopos Labs Inc. bought a new position in AT&T during the fourth quarter valued at about $839,000. Wealth Enhancement Advisory Services LLC grew its holdings in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the period. Finally, M&G Plc bought a new stake in AT&T in the first quarter worth about $9,074,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Evercore ISI increased their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Oppenheimer upped their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Price Performance

NYSE T opened at $20.93 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market capitalization of $150.07 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The company has a 50 day simple moving average of $19.31 and a 200-day simple moving average of $18.02. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $21.00.

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, hitting analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue was down .3% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.2 earnings per share 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 paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.30%. AT&T’s dividend payout ratio (DPR) is currently 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.