Mutual of America Capital Management LLC Has $22.52 Million Holdings in AT&T Inc. (NYSE:T)

Mutual of America Capital Management LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,023,411 shares of the technology company’s stock after selling 35,646 shares during the period. Mutual of America Capital Management LLC’s holdings in AT&T were worth $22,515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T during the 2nd quarter valued at $23,888,000. Talbot Financial LLC purchased a new position in AT&T in the 3rd quarter worth $7,438,000. Mackenzie Financial Corp increased its holdings in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares during the period. DRW Securities LLC increased its stake in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares during the period. Finally, Van ECK Associates Corp boosted its position in AT&T by 7.2% during the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after buying an additional 26,706 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T opened at $22.68 on Friday. The business has a 50-day simple moving average of $21.89 and a two-hundred day simple moving average of $19.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $15.75 and a 52 week high of $22.75. The stock has a market cap of $162.74 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on T. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Company 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.