Fisher Asset Management LLC Lowers Position in AT&T Inc. $T

Fisher Asset Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 34.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,412 shares of the technology company’s stock after selling 63,383 shares during the quarter. Fisher Asset Management LLC’s holdings in AT&T were worth $3,485,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in T. Denali Advisors LLC increased its stake in shares of AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares in the last quarter. Tredje AP fonden lifted its stake in shares of AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after buying an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after buying an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new stake in AT&T in the 2nd quarter worth $489,000. Finally, Sentry Investment Management LLC increased its stake in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $25.39 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The business has a 50 day simple moving average of $25.77 and a two-hundred day simple moving average of $27.38. The stock has a market capitalization of $179.97 billion, a PE ratio of 8.24, a P/E/G ratio of 1.48 and a beta of 0.38.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the prior year, the company earned $0.60 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. AT&T’s payout ratio is 36.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on T. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Barclays lowered their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Royal Bank Of Canada dropped their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.