UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in AT&T Inc. (NYSE:T)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,551,249 shares of the technology company’s stock after selling 1,772,270 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.57% of AT&T worth $892,127,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC lifted its stake in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. American Capital Advisory LLC grew its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $23.27 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.38. The company has a market capitalization of $166.97 billion, a P/E ratio of 18.92, a PEG ratio of 3.47 and a beta of 0.59. The stock has a 50 day moving average price of $22.10 and a two-hundred day moving average price of $20.07.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.77%. AT&T’s payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Barclays upped their target price on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup raised their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

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.