Oppenheimer Asset Management Inc. Sells 10,458 Shares of AT&T Inc. $T

Oppenheimer Asset Management Inc. reduced its position in AT&T Inc. (NYSE:T) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,601,181 shares of the technology company’s stock after selling 10,458 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AT&T were worth $46,338,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in T. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the first quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T during the second quarter worth $26,000. Hager Investment Management Services LLC grew its stake in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the period. Kennebec Savings Bank lifted its holdings in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares in the last quarter. Finally, Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on T. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group restated a “buy” rating on shares of AT&T in a report on Thursday. Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Wells Fargo & Company cut their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Performance

T opened at $25.17 on Friday. The business’s 50-day simple moving average is $27.97 and its 200 day simple moving average is $27.76. The firm has a market capitalization of $179.95 billion, a PE ratio of 8.17, a PEG ratio of 2.04 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.01. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. AT&T’s dividend payout ratio is presently 36.04%.

About AT&T

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.