Meeder Asset Management Inc. Sells 17,146 Shares of AT&T Inc. (NYSE:T)

Meeder Asset Management Inc. trimmed its position in AT&T Inc. (NYSE:T) by 71.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,902 shares of the technology company’s stock after selling 17,146 shares during the quarter. Meeder Asset Management Inc.’s holdings in AT&T were worth $132,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vantage Financial Partners LLC grew its position in AT&T by 25.5% during the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock worth $641,000 after buying an additional 7,762 shares in the last quarter. Gilbert & Cook Inc. grew its stake in AT&T by 4.1% during the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after buying an additional 1,212 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in AT&T by 4.5% in the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after buying an additional 1,194 shares during the period. Gryphon Financial Partners LLC raised its position in shares of AT&T by 21.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after buying an additional 4,870 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of AT&T by 26.8% during the 4th quarter. Quadrant Capital Group LLC now owns 42,690 shares of the technology company’s stock worth $716,000 after acquiring an additional 9,036 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Finally, TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.31.

AT&T Stock Up 0.2 %

Shares of NYSE T opened at $21.64 on Friday. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $21.86. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $155.13 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 3.65 and a beta of 0.59. The business has a 50-day moving average of $19.59 and a 200-day moving average of $18.17.

AT&T (NYSE:T) last released its 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. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the company posted $0.63 EPS. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

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.