Schulhoff & Co. Inc. Decreases Stake in AT&T Inc. (NYSE:T)

Schulhoff & Co. Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,536 shares of the technology company’s stock after selling 2,975 shares during the quarter. Schulhoff & Co. Inc.’s holdings in AT&T were worth $1,750,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in T. Mercer Global Advisors Inc. ADV raised its position in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its position in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. increased its position in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring 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 $78,570,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

Shares of AT&T stock opened at $22.36 on Thursday. The company has a market capitalization of $160.44 billion, a PE ratio of 18.13, a P/E/G ratio of 3.33 and a beta of 0.59. The company has a 50-day simple moving average of $21.82 and a two-hundred day simple moving average of $19.65. AT&T Inc. has a one year low of $15.64 and a one year high of $22.73. 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 (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.22 EPS 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.