Xponance Inc. Decreases Holdings in AT&T Inc. (NYSE:T)

Xponance Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 964,833 shares of the technology company’s stock after selling 4,829 shares during the period. Xponance Inc.’s holdings in AT&T were worth $18,438,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its stake 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 buying an additional 13,201,774 shares in the last quarter. Kodai Capital Management LP purchased a new stake in AT&T in the 4th quarter valued at approximately $152,109,000. Bank of New York Mellon Corp lifted its stake in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in 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 valued at $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.8 %

T stock opened at $21.54 on Monday. The company has a market cap of $154.45 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 3.79 and a beta of 0.59. 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 business has a fifty day simple moving average of $19.88 and a 200-day simple moving average of $18.35. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.15%. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on T shares. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada boosted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Evercore ISI boosted their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Hold” and an average price target of $22.31.

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.