AT&T Inc. (NYSE:T) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers decreased its position in shares of AT&T Inc. (NYSE:T) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,780,522 shares of the technology company’s stock after selling 90,533 shares during the quarter. Cetera Investment Advisers’ holdings in AT&T were worth $53,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of T. Mercer Global Advisors Inc. ADV increased its stake in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC grew its holdings in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 worth $1,549,375,000 after buying an additional 5,592,123 shares during the period. Point72 Asset Management L.P. lifted its holdings 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 worth $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its position in 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 valued at $477,528,000 after buying an additional 4,511,725 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $22.13 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $158.68 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 3.75 and a beta of 0.59. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The stock has a 50 day moving average of $20.29 and a 200-day moving average of $18.58.

AT&T (NYSE:T) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on T shares. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Finally, Tigress Financial raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.