AT&T Inc. (NYSE:T) Shares Sold by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC decreased its stake in AT&T Inc. (NYSE:T) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,749 shares of the technology company’s stock after selling 3,283 shares during the period. Waters Parkerson & CO. LLC’s holdings in AT&T were worth $1,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Bridges Investment Management Inc. boosted its stake in AT&T by 1.5% in the second quarter. Bridges Investment Management Inc. now owns 41,764 shares of the technology company’s stock valued at $798,000 after acquiring an additional 621 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of AT&T by 110.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock valued at $117,623,000 after purchasing an additional 3,228,888 shares during the last quarter. Joseph Group Capital Management boosted its position in shares of AT&T by 11.8% in the 2nd quarter. Joseph Group Capital Management now owns 178,985 shares of the technology company’s stock valued at $3,420,000 after purchasing an additional 18,888 shares during the period. Wealth Advisors of Tampa Bay LLC grew its stake in AT&T by 5.7% during the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 190,890 shares of the technology company’s stock worth $3,648,000 after buying an additional 10,240 shares during the last quarter. Finally, Trust Investment Advisors increased its position in AT&T by 51.4% during the second quarter. Trust Investment Advisors now owns 48,856 shares of the technology company’s stock worth $934,000 after buying an additional 16,585 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on T. Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. UBS Group reissued a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.31.

AT&T Stock Down 1.7 %

Shares of NYSE T opened at $21.35 on Friday. The stock has a market capitalization of $153.08 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 3.79 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 firm has a 50-day moving average price of $19.82 and a 200 day moving average price of $18.30. 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 posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

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. This represents a $1.11 annualized dividend and a yield of 5.20%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T 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.