Bfsg LLC Sells 6,687 Shares of AT&T Inc. (NYSE:T)

Bfsg LLC decreased its position in AT&T Inc. (NYSE:T) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 279,997 shares of the technology company’s stock after selling 6,687 shares during the period. Bfsg LLC’s holdings in AT&T were worth $6,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of 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 purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC increased its holdings in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in AT&T by 7.4% in the second 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 during the period. Thornburg Investment Management Inc. boosted its holdings in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of AT&T during the 2nd quarter worth about $78,570,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Wells Fargo & Company increased their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.69.

AT&T Stock Performance

Shares of T stock opened at $21.70 on Thursday. The firm has a market cap of $155.59 billion, a PE ratio of 11.67, a P/E/G ratio of 3.62 and a beta of 0.60. AT&T Inc. has a 12 month low of $14.28 and a 12 month high of $22.34. The company’s fifty day simple moving average is $20.86 and its 200-day simple moving average is $18.91. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. Equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.12%. AT&T’s dividend payout ratio is 59.68%.

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.