Securian Asset Management Inc. Cuts Position in AT&T Inc. $T

Securian Asset Management Inc. lowered its position in AT&T Inc. (NYSE:T) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,323 shares of the technology company’s stock after selling 30,884 shares during the quarter. Securian Asset Management Inc.’s holdings in AT&T were worth $9,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Front Row Advisors LLC purchased a new stake in shares of AT&T during the 2nd quarter worth $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T in the second quarter valued at $26,000. Kennebec Savings Bank raised its stake in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Solstein Capital LLC lifted its stake in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Finally, Curio Wealth LLC lifted its position in shares of AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after buying an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Arete Research set a $20.00 target price on AT&T in a report on Tuesday. Scotiabank set a $30.25 target price on shares of AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Loop Capital set a $29.00 target price on shares of AT&T in a research report on Friday, December 19th. Finally, Morgan Stanley reduced their price target on shares of AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $29.45.

AT&T Stock Performance

Shares of T opened at $24.34 on Wednesday. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The stock has a market cap of $172.53 billion, a P/E ratio of 7.90, a PEG ratio of 1.32 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $24.96 and a two-hundred day moving average of $26.85.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period last year, the company posted $0.60 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s payout ratio is 36.04%.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.