AT&T Inc. (NYSE:T) Shares Sold by Mathes Company Inc.

Mathes Company Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 6.8% during the 2nd quarter, Holdings Channel reports. The fund owned 95,644 shares of the technology company’s stock after selling 7,000 shares during the quarter. Mathes Company Inc.’s holdings in AT&T were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in T. Mercer Global Advisors Inc. ADV increased its position in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares during the period. Kodai Capital Management LP acquired a new stake in AT&T in the 4th quarter valued at approximately $152,109,000. Bank of New York Mellon Corp increased its position in shares of 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 valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Point72 Asset Management L.P. increased its position in shares of 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 valued at $152,477,000 after purchasing an additional 4,970,954 shares during the period. Finally, Thornburg Investment Management Inc. increased its position in shares of AT&T by 22.0% during 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 purchasing an additional 4,511,725 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of several research analyst reports. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Evercore ISI lifted their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Barclays lifted their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, TD Cowen lifted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Stock Performance

Shares of AT&T stock opened at $21.74 on Thursday. The stock has a market cap of $155.84 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The business has a fifty day simple moving average of $19.78 and a 200-day simple moving average of $18.28. 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 Inc. has a 12 month low of $14.12 and a 12 month high of $22.34.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.