AT&T Inc. (NYSE:T) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lessened its stake in AT&T Inc. (NYSE:T) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 43,242 shares of the technology company’s stock after selling 961 shares during the period. Hodges Capital Management Inc.’s holdings in AT&T were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors L.P. raised its holdings in AT&T by 1.6% in the 3rd quarter. Natixis Advisors L.P. now owns 740,864 shares of the technology company’s stock worth $11,128,000 after purchasing an additional 11,844 shares during the period. Morningstar Investment Services LLC acquired a new position in AT&T in the 3rd quarter worth about $241,000. Caxton Associates LP acquired a new position in AT&T in the 3rd quarter worth about $249,000. United Services Automobile Association increased its stake in AT&T by 16.0% during the 3rd quarter. United Services Automobile Association now owns 186,854 shares of the technology company’s stock worth $2,807,000 after buying an additional 25,821 shares in the last quarter. Finally, Logan Capital Management Inc. increased its stake in AT&T by 14.6% during the 3rd quarter. Logan Capital Management Inc. now owns 987,393 shares of the technology company’s stock worth $14,831,000 after buying an additional 125,672 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Scotiabank boosted their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday, April 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.71.

AT&T Price Performance

AT&T stock opened at $19.11 on Friday. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.13. The stock has a market cap of $137.02 billion, a P/E ratio of 10.27, a PEG ratio of 4.34 and a beta of 0.60. The company has a 50-day moving average price of $17.57 and a 200 day moving average price of $17.18. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the business earned $0.60 earnings per share. AT&T’s revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 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.