AT&T Inc. (T) Position Cut by Hartford Investment Management Co.
Hartford Investment Management Co. cut its position in shares of AT&T Inc. (NYSE:T) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,464,302 shares of the technology company’s stock after selling 58,288 shares during the period. AT&T accounts for 1.1% of Hartford Investment Management Co.’s holdings, making the stock its 12th biggest position. Hartford Investment Management Co.’s holdings in AT&T were worth $55,248,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ullmann Financial Group Inc. purchased a new stake in shares of AT&T in the first quarter valued at approximately $101,000. Feltz Wealth PLAN Inc. acquired a new position in shares of AT&T during the 1st quarter worth approximately $104,000. Taylor Wealth Management Partners raised its stake in shares of AT&T by 0.4% during the 1st quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares during the period. Almanack Investment Partners LLC. acquired a new position in shares of AT&T during the 1st quarter worth approximately $109,000. Finally, Sterling Investment Advisors Ltd. raised its stake in shares of AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock worth $113,000 after buying an additional 2,024 shares during the period. 54.99% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Inc. (NYSE:T) traded up 0.64% during trading on Tuesday, hitting $39.36. The stock had a trading volume of 7,931,644 shares. The stock’s 50-day moving average is $37.69 and its 200 day moving average is $38.59. The firm has a market cap of $241.67 billion, a price-to-earnings ratio of 18.50 and a beta of 0.49. AT&T Inc. has a one year low of $35.10 and a one year high of $43.03.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The company had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities analysts anticipate that AT&T Inc. will post $2.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Friday, October 6th. AT&T’s dividend payout ratio is currently 92.45%.
A number of research analysts have recently issued reports on T shares. Vetr upgraded AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 target price on the stock in a research report on Wednesday, August 16th. Cowen and Company reissued a “market perform” rating and issued a $41.00 price target (down previously from $43.00) on shares of AT&T in a report on Wednesday, July 26th. Morgan Stanley boosted their price target on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 27th. Wells Fargo & Company restated an “outperform” rating on shares of AT&T in a research report on Wednesday, June 28th. Finally, Macquarie restated a “buy” rating and set a $43.00 price objective on shares of AT&T in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.87.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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