AT&T Inc. Shares (NYSE:T) sold by Rathbones Group PLC

Rathbones Group PLC reduced its holdings in shares of AT&T Inc. (NYSE:T – Free Report) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 137,038 shares of the technology company’s stock after selling 17,354 shares during the quarter. Rathbones Group PLC’s holdings in AT&T were worth $2,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 7.4% in the second 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 acquiring an additional 5,592,123 shares during the last quarter. LSV Asset Management raised its position in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. Thornburg Investment Management Inc. boosted its stake in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 ​​shares in the last quarter. Finally, State of Michigan Retirement System boosted its holdings in AT&T by 9.0% in the second quarter. State of Michigan Retirement System now owns 20,072,613 shares of the technology company’s stock worth $383,588,000 after buying an additional 1,662,100 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s shares.

AT&T stock up 2.9%

Shares of T opened at $22.28 on Tuesday. The firm has a market cap of $159.72 billion, a PE ratio of 11.98, a P/E/G ratio of 3.68 and a beta of 0.59. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70, and a quick ratio of 0.66. The firm has a 50-day simple moving average of $19.66 and a 200-day simple moving average of $18.22.

AT&T (NYSE:T – Get Your Free Report ) last issued 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. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the company posted EPS of $0.63. The company’s revenue was down 0.3% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a dividend of $1.11 on an annualized basis and a yield of 4.98%. The ex-dividend date was Wednesday, July 10. AT&T’s dividend payout ratio is currently 59.68%.

Analysts on Wall Street are forecasting an increase

A number of research analysts recently issued reports on T shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28. TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Finally, BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.31.

Read our latest report on AT&T

About AT&T

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment provides wireless voice and data communications services; and sells mobile phones, 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.

Further reading

Want to see what other hedge funds own T? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for AT&T Inc. (NYSE:T – Free Report).

Get news and reviews for AT&T Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AT&T and related companies with MarketBeat.com’s FREE daily email newsletter.