BBVA USA Bancshares Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 16.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 142,831 shares of the technology company’s stock after selling 28,792 shares during the period. BBVA USA Bancshares Inc.’s holdings in AT&T were worth $4,140,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. First Command Bank increased its stake in shares of AT&T by 94.7% during the second quarter. First Command Bank now owns 136,968 shares of the technology company’s stock worth $4,141,000 after purchasing an additional 66,629 shares in the last quarter. AXA lifted its stake in shares of AT&T by 27.9% in the first quarter. AXA now owns 3,527,087 shares of the technology company’s stock valued at $102,814,000 after purchasing an additional 770,426 shares during the period. Annex Advisory Services LLC lifted its stake in shares of AT&T by 10.5% in the third quarter. Annex Advisory Services LLC now owns 138,220 shares of the technology company’s stock valued at $3,941,000 after purchasing an additional 13,146 shares during the period. Raymond James Trust N.A. lifted its stake in shares of AT&T by 2.5% in the third quarter. Raymond James Trust N.A. now owns 567,743 shares of the technology company’s stock valued at $16,186,000 after purchasing an additional 13,680 shares during the period. Finally, Kwmg LLC lifted its stake in shares of AT&T by 6.9% in the second quarter. Kwmg LLC now owns 83,935 shares of the technology company’s stock valued at $2,537,000 after purchasing an additional 5,439 shares during the period. Institutional investors and hedge funds own 52.29% of the company’s stock.
Several brokerages recently commented on T. Royal Bank of Canada reduced their price objective on shares of AT&T from $32.00 to $30.00 in a research note on Monday. Barclays initiated coverage on shares of AT&T in a report on Friday, October 2nd. They set an “overweight” rating for the company. Scotiabank downgraded shares of AT&T from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the company from $34.00 to $30.00 in a report on Monday, August 31st. Morgan Stanley dropped their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Finally, Credit Suisse Group dropped their target price on shares of AT&T from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, October 23rd. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.58.
AT&T (NYSE:T) last posted its earnings results on Thursday, October 22nd. The technology company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). AT&T had a return on equity of 13.03% and a net margin of 6.84%. The firm had revenue of $42.43 billion for the quarter, compared to analyst estimates of $41.66 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 3.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a $0.52 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.08 annualized dividend and a yield of 7.85%. AT&T’s dividend payout ratio is presently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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