OmniStar Financial Group Inc. Lowers Stake in AT&T Inc. (NYSE:T)

OmniStar Financial Group Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,119 shares of the technology company’s stock after selling 532 shares during the quarter. AT&T accounts for 1.3% of OmniStar Financial Group Inc.’s investment portfolio, making the stock its 26th biggest position. OmniStar Financial Group Inc.’s holdings in AT&T were worth $1,480,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Horan Securities Inc. raised its position in AT&T by 439.2% in the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares during the period. Next Capital Management LLC purchased a new position in AT&T in the 2nd quarter worth $39,000. Contravisory Investment Management Inc. raised its position in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after purchasing an additional 338 shares during the period. West Oak Capital LLC raised its position in AT&T by 33.3% in the 3rd quarter. West Oak Capital LLC now owns 1,600 shares of the technology company’s stock worth $61,000 after purchasing an additional 400 shares during the period. Finally, Centaurus Financial Inc. raised its position in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 53.02% of the company’s stock.

T has been the topic of a number of analyst reports. Barclays lifted their target price on shares of AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. They noted that the move was a valuation call. Raymond James restated an “outperform” rating and issued a $40.00 price objective (up previously from $35.00) on shares of AT&T in a research report on Monday, October 7th. DZ Bank restated a “hold” rating and issued a $38.00 price objective on shares of AT&T in a research report on Wednesday, September 18th. Cowen set a $40.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $38.43.

T stock opened at $37.58 on Friday. The firm’s 50-day moving average price is $36.72 and its two-hundred day moving average price is $33.57. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $38.75. The stock has a market capitalization of $270.72 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 2.33 and a beta of 0.63. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 3.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s payout ratio is 57.95%.

In other news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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