AT&T Inc. (NYSE:T) Holdings Lowered by Tobam

Tobam decreased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 28.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 716,919 shares of the technology company's stock after selling 282,135 shares during the quarter. AT&T comprises 2.9% of Tobam's holdings, making the stock its largest holding. Tobam's holdings in AT&T were worth $15,772,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of T. Mercer Global Advisors Inc. ADV grew 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 in the last quarter. AQR Capital Management LLC lifted its holdings in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company's stock worth $414,563,000 after buying an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 worth $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. boosted its position in AT&T by 22.0% in 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 buying an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of AT&T in the second quarter worth $78,570,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

T traded down $0.70 on Thursday, hitting $21.23. 28,728,849 shares of the company traded hands, compared to its average volume of 35,752,625. The company has a 50 day moving average of $20.64 and a 200-day moving average of $18.77. AT&T Inc. has a 12-month low of $14.23 and a 12-month high of $22.34. The stock has a market capitalization of $152.22 billion, a PE ratio of 11.41, a PEG ratio of 3.74 and a beta of 0.60. 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 (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.23%. AT&T's payout ratio is currently 59.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on T shares. Royal Bank of Canada raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a "sector perform" rating in a report on Thursday, July 25th. Hsbc Global Res upgraded AT&T to a "strong-buy" rating in a research note on Tuesday, October 1st. Daiwa America raised AT&T to a "hold" rating in a research report on Friday, July 26th. Redburn Atlantic raised AT&T to a "strong sell" rating in a research report on Monday, September 16th. Finally, UBS Group reaffirmed a "buy" rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.38.

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.