AGF Management Ltd. Has $4.45 Million Stock Position in AT&T Inc. (NYSE:T)

AGF Management Ltd. lowered its stake in AT&T Inc. (NYSE:T) by 17.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 232,806 shares of the technology company’s stock after selling 48,078 shares during the period. AGF Management Ltd.’s holdings in AT&T were worth $4,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in T. Vaughan David Investments LLC IL lifted its holdings in shares of AT&T by 1.7% during the second quarter. Vaughan David Investments LLC IL now owns 1,981,825 shares of the technology company’s stock worth $37,873,000 after purchasing an additional 33,870 shares during the period. MGO One Seven LLC lifted its holdings in shares of AT&T by 1.6% during the second quarter. MGO One Seven LLC now owns 122,826 shares of the technology company’s stock worth $2,347,000 after purchasing an additional 1,936 shares during the period. Headlands Technologies LLC lifted its holdings in shares of AT&T by 30.1% during the second quarter. Headlands Technologies LLC now owns 315,146 shares of the technology company’s stock worth $6,022,000 after purchasing an additional 73,000 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of AT&T by 0.7% during the second quarter. Coldstream Capital Management Inc. now owns 370,514 shares of the technology company’s stock worth $7,081,000 after purchasing an additional 2,501 shares during the period. Finally, Van Hulzen Asset Management LLC acquired a new position in AT&T in the second quarter valued at $273,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on T. Royal Bank of Canada boosted their target price 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Barclays boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Evercore ISI boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

AT&T Stock Up 0.7 %

T opened at $21.59 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $154.81 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 3.57 and a beta of 0.59. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $21.86. The company’s 50-day moving average price is $19.53 and its two-hundred day moving average price is $18.13.

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, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders 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 5.14%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 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.