AT&T Inc. (NYSE:T) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in AT&T Inc. (NYSE:T) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,904,036 shares of the technology company’s stock after selling 116,770 shares during the period. Principal Financial Group Inc.’s holdings in AT&T were worth $151,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of T. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth about $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth about $25,000. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. First Pacific Financial grew its position in shares of AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares during the last quarter. Finally, American Capital Advisory LLC grew its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T traded up $0.14 during trading on Friday, reaching $19.90. The company had a trading volume of 29,346,622 shares, compared to its average volume of 35,488,664. The firm’s fifty day moving average is $19.11 and its 200 day moving average is $17.86. The firm has a market capitalization of $142.69 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $19.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on T shares. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Evercore ISI boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Barclays boosted their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

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.