Advisors Asset Management Inc. Lowers Stake in AT&T Inc. (T)

Advisors Asset Management Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,115,714 shares of the technology company’s stock after selling 30,533 shares during the period. AT&T makes up about 0.7% of Advisors Asset Management Inc.’s holdings, making the stock its 11th biggest position. Advisors Asset Management Inc.’s holdings in AT&T were worth $42,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ullmann Financial Group Inc. purchased a new position in AT&T during the first quarter valued at approximately $101,000. Almanack Investment Partners LLC. purchased a new position in AT&T during the first quarter valued at approximately $109,000. Sterling Investment Advisors Ltd. grew its stake in AT&T by 289.1% during the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after acquiring an additional 2,024 shares in the last quarter. CKW Financial Group grew its stake in AT&T by 83.9% during the second quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after acquiring an additional 1,724 shares in the last quarter. Finally, Sharkey Howes & Javer grew its stake in AT&T by 9.0% during the second quarter. Sharkey Howes & Javer now owns 5,166 shares of the technology company’s stock valued at $195,000 after acquiring an additional 428 shares in the last quarter. 55.21% of the stock is currently owned by institutional investors.

AT&T Inc. (NYSE T) opened at $33.72 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. AT&T Inc. has a 1-year low of $32.55 and a 1-year high of $43.03. The company has a market cap of $207,680.00, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.76 and a beta of 0.41.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The company had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. sell-side analysts predict that AT&T Inc. will post 2.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.49 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 5.81%. AT&T’s dividend payout ratio (DPR) is presently 94.23%.

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In related news, Director Matthew K. Rose acquired 29,600 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was acquired at an average cost of $33.75 per share, for a total transaction of $999,000.00. Following the acquisition, the director now owns 3,100 shares of the company’s stock, valued at $104,625. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

T has been the subject of a number of research reports. SunTrust Banks, Inc. reissued a “hold” rating and issued a $36.00 price target on shares of AT&T in a research note on Friday, October 27th. Standpoint Research initiated coverage on shares of AT&T in a research note on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price target for the company. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Wednesday, October 11th. Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $40.58 price target for the company in a research note on Monday, October 16th. Finally, Macquarie reissued a “buy” rating and issued a $43.00 price target on shares of AT&T in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $43.48.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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