Kowal Investment Group LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Kowal Investment Group LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,664 shares of the technology company’s stock after selling 898 shares during the period. Kowal Investment Group LLC’s holdings in AT&T were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the period. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Legal & General Group Plc increased its stake in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after buying an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.9 %

Shares of NYSE T opened at $21.70 on Thursday. AT&T Inc. has a 52-week low of $14.28 and a 52-week high of $22.34. The stock’s 50 day moving average price is $20.86 and its two-hundred day moving average price 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. The stock has a market capitalization of $155.59 billion, a P/E ratio of 11.67, a PEG ratio of 3.62 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.22 earnings per share 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. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

T has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI increased their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $22.69.

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.