Tobam Has $19.09 Million Stake in AT&T Inc. (NYSE:T)

Tobam lowered its holdings in shares of AT&T Inc. (NYSE:T) by 39.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 999,054 shares of the technology company’s stock after selling 654,269 shares during the period. AT&T accounts for approximately 3.0% of Tobam’s holdings, making the stock its 2nd largest position. Tobam’s holdings in AT&T were worth $19,092,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in T. WealthCare Investment Partners LLC raised its position in shares of AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of AT&T by 1.3% in the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after purchasing an additional 559 shares in the last quarter. FAS Wealth Partners Inc. boosted its holdings in shares of AT&T by 1.8% in the 2nd quarter. FAS Wealth Partners Inc. now owns 32,692 shares of the technology company’s stock valued at $625,000 after purchasing an additional 586 shares in the last quarter. Riverview Trust Co boosted its holdings in shares of AT&T by 4.6% during the 2nd quarter. Riverview Trust Co now owns 13,368 shares of the technology company’s stock valued at $255,000 after acquiring an additional 592 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in AT&T by 1.7% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after buying an additional 598 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

T stock opened at $19.77 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market cap of $141.75 billion, a P/E ratio of 10.63, a P/E/G ratio of 3.26 and a beta of 0.58. The firm’s fifty day moving average is $19.07 and its 200 day moving average is $17.85. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $19.99.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The company 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%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on T. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $22.06.

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.