Main Street Research LLC Decreases Stock Holdings in AT&T Inc. $T

Main Street Research LLC trimmed its position in AT&T Inc. (NYSE:T) by 21.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,254 shares of the technology company’s stock after selling 3,439 shares during the quarter. Main Street Research LLC’s holdings in AT&T were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Denali Advisors LLC boosted its holdings in shares of AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after buying an additional 22,394 shares in the last quarter. Tredje AP fonden boosted its holdings in shares of AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after buying an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after buying an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. bought a new stake in shares of AT&T during the 2nd quarter valued at $489,000. Finally, Sentry Investment Management LLC boosted its holdings in shares of AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after buying an additional 13,370 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of a number of research reports. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Wells Fargo & Company dropped their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Williams Trading set a $33.00 target price on shares of AT&T in a report on Thursday, October 23rd. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

AT&T Stock Performance

Shares of AT&T stock opened at $24.42 on Wednesday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The firm’s 50-day moving average is $27.41 and its 200 day moving average is $27.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market cap of $174.58 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 2.16 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. AT&T’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s payout ratio is 36.04%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.