Steigerwald Gordon & Koch Inc. Sells 53,550 Shares of AT&T Inc. (NYSE:T)

Steigerwald Gordon & Koch Inc. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 359,107 shares of the technology company’s stock after selling 53,550 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in AT&T were worth $6,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.4% in the second 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 acquiring an additional 5,592,123 shares in the last quarter. Norges Bank bought a new stake in AT&T in the fourth quarter valued at $1,118,288,000. LSV Asset Management boosted its holdings in AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its holdings in AT&T by 8.6% in the first quarter. Thornburg Investment Management Inc. now owns 20,476,671 shares of the technology company’s stock valued at $360,389,000 after acquiring an additional 1,616,598 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on T. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Moffett Nathanson lifted their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Barclays lifted their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Stock Down 0.4 %

Shares of T traded down $0.08 during mid-day trading on Tuesday, reaching $21.42. The company’s stock had a trading volume of 1,572,261 shares, compared to its average volume of 35,791,992. The company’s 50 day moving average is $19.36 and its 200 day moving average is $18.05. The stock has a market cap of $153.58 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. Equities analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.18%. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T Company Profile

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.