AT&T Inc. (NYSE:T) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd trimmed its holdings in AT&T Inc. (NYSE:T) by 17.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 152,364 shares of the technology company’s stock after selling 32,684 shares during the period. UniSuper Management Pty Ltd’s holdings in AT&T were worth $2,682,000 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 the business. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at about $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at about $25,000. First Pacific Financial lifted its stake in shares of AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in shares of AT&T in the 4th quarter valued at about $39,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 1.7 %

T stock traded down $0.32 during midday trading on Tuesday, hitting $18.23. 70,104,783 shares of the company’s stock were exchanged, compared to its average volume of 36,520,348. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12-month low of $13.89 and a 12-month high of $19.33. The firm has a 50 day moving average price of $18.21 and a 200-day moving average price of $17.43. The stock has a market capitalization of $130.71 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 3.61 and a beta of 0.58.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the previous year, the business earned $0.60 EPS. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.23 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.09%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on T. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Monday, April 29th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. 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 downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.85.

AT&T 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.