First Dallas Securities Inc. Sells 5,184 Shares of AT&T Inc. (NYSE:T)

First Dallas Securities Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,244 shares of the technology company’s stock after selling 5,184 shares during the period. First Dallas Securities Inc.’s holdings in AT&T were worth $1,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Diversified Trust Co lifted its stake in shares of AT&T by 1.8% in the 2nd quarter. Diversified Trust Co now owns 149,972 shares of the technology company’s stock worth $2,866,000 after purchasing an additional 2,723 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares during the last quarter. ORG Partners LLC raised its position in AT&T by 779.5% in the second quarter. ORG Partners LLC now owns 19,121 shares of the technology company’s stock worth $363,000 after acquiring an additional 16,947 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in shares of AT&T by 11.5% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 9,640 shares of the technology company’s stock worth $184,000 after acquiring an additional 996 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of AT&T by 1.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 438,329 shares of the technology company’s stock valued at $8,376,000 after acquiring an additional 8,370 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Oppenheimer upped their price objective on AT&T from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.73.

AT&T Price Performance

Shares of T opened at $23.38 on Tuesday. The stock has a market capitalization of $167.76 billion, a PE ratio of 19.01, a PEG ratio of 3.63 and a beta of 0.59. The company has a 50 day moving average price of $22.39 and a 200-day moving average price of $20.43. 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 $24.03.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

About AT&T

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.