The Heartland Advisors Inc. lowers its Position in AT&T Inc. (T)

The Heartland Advisors Inc. lowers its Position in AT&T Inc. (T)

Heartland Advisors Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 278,044 shares of the company’s stock after selling 8,715 shares during the period. Heartland Advisors Inc.’s holdings in AT&T were worth $12,014,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in T. Emerald Acquisition Ltd. purchased a new stake in AT&T during the second quarter valued at $387,606,000. TIAA CREF Investment Management LLC boosted its stake in AT&T by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 24,011,256 shares of the company’s stock valued at $940,521,000 after buying an additional 2,733,411 shares during the period. Swedbank purchased a new stake in AT&T during the second quarter valued at $104,188,000. First Trust Advisors LP boosted its stake in AT&T by 53.7% in the second quarter. First Trust Advisors LP now owns 6,711,838 shares of the company’s stock valued at $290,019,000 after buying an additional 2,345,042 shares during the period. Finally, American Century Companies Inc. boosted its stake in AT&T by 34.6% in the second quarter. American Century Companies Inc. now owns 8,346,666 shares of the company’s stock valued at $360,659,000 after buying an additional 2,146,128 shares during the period. 53.64% of the stock is owned by institutional investors.

Shares of AT&T Inc. (NYSE:T) traded down 0.61% during mid-day trading on Friday, hitting $38.87. 19,171,955 shares of the company traded hands. AT&T Inc. has a 52-week low of $32.22 and a 52-week high of $43.89. The firm has a 50-day moving average price of $40.58 and a 200 day moving average price of $40.51. The firm has a market cap of $239.13 billion, a price-to-earnings ratio of 16.76 and a beta of 0.30.

AT&T (NYSE:T) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The firm had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. AT&T had a net margin of 8.76% and a return on equity of 13.93%. Equities research analysts anticipate that AT&T Inc. will post $2.86 EPS for the current fiscal year.

The firm 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.94%. AT&T’s dividend payout ratio (DPR) is 83.12%.

A number of equities analysts recently weighed in on T shares. Vetr cut shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price objective for the company. in a research report on Tuesday, June 21st. Buckingham Research lowered shares of AT&T from a “buy” rating to a “neutral” rating and increased their target price for the stock from $30.97 to $39.56 in a report on Friday, June 24th. They noted that the move was a valuation call. Barclays PLC initiated coverage on shares of AT&T in a report on Monday, June 27th. They set a “buy” rating on the stock. Robert W. Baird reiterated a “neutral” rating and set a $41.00 target price on shares of AT&T in a report on Tuesday, June 28th. Finally, Deutsche Bank AG increased their target price on shares of AT&T from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 28th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. AT&T presently has an average rating of “Hold” and an average target price of $41.57.

In other AT&T news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

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