AT&T Inc. (T) Position Cut by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lowered its stake in shares of AT&T Inc. (NYSE:T) by 36.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,262,040 shares of the company’s stock after selling 1,304,240 shares during the period. BNP Paribas Arbitrage SA’s holdings in AT&T were worth $97,743,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Invictus RG boosted its position in AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock valued at $138,000 after buying an additional 2,560 shares during the period. RPg Family Wealth Advisory LLC boosted its position in AT&T by 61.0% in the first quarter. RPg Family Wealth Advisory LLC now owns 4,398 shares of the company’s stock valued at $172,000 after buying an additional 1,666 shares during the period. Continental Advisors LLC bought a new position in AT&T during the first quarter valued at $200,000. Gateway Advisory LLC bought a new position in AT&T during the first quarter valued at $239,000. Finally, Seven Eight Capital LLC bought a new position in AT&T during the first quarter valued at $276,000. Hedge funds and other institutional investors own 53.64% of the company’s stock.
AT&T Inc. (NYSE:T) traded down 0.29% during midday trading on Friday, reaching $40.61. The company had a trading volume of 19,381,624 shares. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89. The company has a market capitalization of $249.83 billion, a P/E ratio of 17.51 and a beta of 0.28. The firm has a 50-day moving average of $40.97 and a 200 day moving average of $40.48.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business earned $40.50 billion during the quarter, compared to analysts’ expectations of $40.75 billion. On average, equities research analysts forecast that AT&T Inc. will post $2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Wednesday, October 5th. AT&T’s dividend payout ratio is 83.12%.
Several research analysts recently weighed in on T shares. Jefferies Group restated a “buy” rating on shares of AT&T in a research report on Sunday, June 5th. Vetr cut shares of AT&T from a “buy” rating to a “hold” rating and set a $41.37 price target on the stock. in a research report on Tuesday, June 7th. Buckingham Research cut shares of AT&T from a “buy” rating to a “neutral” rating and increased their price target for the company from $30.97 to $39.56 in a research report on Friday, June 24th. They noted that the move was a valuation call. Barclays PLC began coverage on shares of AT&T in a research report on Monday, June 27th. They set a “buy” rating on the stock. Finally, Robert W. Baird reiterated a “neutral” rating and set a $41.00 price target on shares of AT&T in a research report on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.43.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the sale, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with MarketBeat.com's FREE daily email newsletter.