AT&T Inc. (NYSE:T) Stake Trimmed by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its holdings in AT&T Inc. (NYSE:T) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 643,454 shares of the technology company’s stock after selling 9,856 shares during the period. Elo Mutual Pension Insurance Co’s holdings in AT&T were worth $12,296,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of T. Octavia Wealth Advisors LLC raised its position in AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares in the last quarter. WealthCare Investment Partners LLC grew its holdings in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares during the period. Integral Investment Advisors Inc. increased its position in AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares during the last quarter. Financial Counselors Inc. raised its stake in AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after buying an additional 539 shares during the period. Finally, Fortitude Family Office LLC lifted its position in shares of AT&T by 1.3% in the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after buying an additional 559 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 2.2 %

Shares of NYSE T opened at $21.78 on Wednesday. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company’s 50 day moving average price is $19.72 and its 200-day moving average price is $18.26. The company has a market capitalization of $156.17 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. Equities analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.10%. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen lifted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. UBS Group restated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Barclays boosted their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Hold” and an average target price of $22.31.

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.