Excalibur Management Corp Has $2.91 Million Stake in AT&T Inc. (NYSE:T)

Excalibur Management Corp reduced its stake in shares of AT&T Inc. (NYSE:T) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,160 shares of the technology company’s stock after selling 2,940 shares during the quarter. AT&T makes up approximately 1.2% of Excalibur Management Corp’s portfolio, making the stock its 15th largest position. Excalibur Management Corp’s holdings in AT&T were worth $2,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kodai Capital Management LP acquired a new stake in AT&T during the fourth quarter valued at $152,109,000. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Thornburg Investment Management Inc. increased its holdings in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in AT&T during the second quarter valued at approximately $78,570,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $22.28 on Tuesday. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. 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 cap of $159.72 billion, a P/E ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. The company’s 50-day simple moving average is $19.66 and its 200 day simple moving average is $18.22.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s dividend payout ratio is 59.68%.

Analyst Ratings Changes

T has been the topic of several analyst reports. Barclays increased their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Oppenheimer upped their price target on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $22.31.

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.