Foster & Motley Inc. Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Foster & Motley Inc. lessened its position in AT&T Inc. (NYSE:T) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,445 shares of the technology company’s stock after selling 6,186 shares during the quarter. Foster & Motley Inc.’s holdings in AT&T were worth $2,474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in T. Norges Bank purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $1,118,288,000. Thornburg Investment Management Inc. purchased a new position in shares of AT&T during the 4th quarter worth $316,472,000. Kodai Capital Management LP purchased a new position in shares of AT&T during the 4th quarter worth $152,109,000. Bank of New York Mellon Corp boosted 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 acquiring an additional 5,592,123 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of AT&T by 120.8% in the fourth 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. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Oppenheimer increased their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Barclays increased their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Trading Up 0.4 %

T opened at $20.66 on Friday. 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 stock has a market capitalization of $148.10 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.36 and a beta of 0.59. The business has a fifty day moving average price of $19.27 and a 200 day moving average price of $17.97. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $20.87.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

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. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.37%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

About AT&T

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.