Means Investment CO. Inc. Sells 3,101 Shares of AT&T Inc. (NYSE:T)

Means Investment CO. Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 21.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,481 shares of the technology company’s stock after selling 3,101 shares during the period. Means Investment CO. Inc.’s holdings in AT&T were worth $219,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in AT&T in the fourth quarter worth about $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in AT&T during the 4th quarter worth about $316,472,000. Kodai Capital Management LP acquired a new position in AT&T in the fourth quarter valued at approximately $152,109,000. Point72 Asset Management L.P. boosted its position in shares of AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of AT&T by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after buying an additional 4,014,873 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on T shares. Evercore ISI boosted their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Finally, StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Trading Up 0.8 %

NYSE:T opened at $19.49 on Tuesday. 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 company’s 50-day simple moving average is $18.81 and its 200 day simple moving average is $17.74. AT&T Inc. has a one year low of $13.92 and a one year high of $19.99. The firm has a market capitalization of $139.75 billion, a P/E ratio of 10.48, a PEG ratio of 3.31 and a beta of 0.58.

AT&T (NYSE:T) last posted 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 analysts’ expectations 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 was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 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.