Conning Inc. Has $1.09 Million Holdings in AT&T Inc. (NYSE:T)

Conning Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,746 shares of the technology company’s stock after selling 605 shares during the period. Conning Inc.’s holdings in AT&T were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP bought a new stake in AT&T in the 2nd quarter valued at $23,888,000. Talbot Financial LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $7,438,000. Mackenzie Financial Corp raised its position in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares during the last quarter. DRW Securities LLC raised its holdings in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $22.12 on Friday. The company has a market capitalization of $158.72 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 3.38 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12 month low of $15.46 and a 12 month high of $22.73. The stock’s 50 day moving average is $21.47 and its 200-day moving average is $19.33.

AT&T (NYSE:T) last issued its quarterly earnings data 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 return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on T shares. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Barclays upped their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup increased their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.