BancFirst Trust & Investment Management Sells 5,408 Shares of AT&T Inc. (NYSE:T)

BancFirst Trust & Investment Management reduced its position in shares of AT&T Inc. (NYSE:T) by 24.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,142 shares of the technology company’s stock after selling 5,408 shares during the period. BancFirst Trust & Investment Management’s holdings in AT&T were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board acquired a new stake in shares of AT&T in the first quarter valued at about $868,000. Point72 Europe London LLP acquired a new stake in AT&T during the 4th quarter valued at approximately $28,443,000. Great Lakes Advisors LLC increased its position in AT&T by 195.8% during the 1st quarter. Great Lakes Advisors LLC now owns 416,107 shares of the technology company’s stock valued at $8,010,000 after purchasing an additional 275,431 shares during the period. Hills Bank & Trust Co raised its holdings in AT&T by 147.1% during the 1st quarter. Hills Bank & Trust Co now owns 38,395 shares of the technology company’s stock worth $739,000 after purchasing an additional 22,854 shares during the last quarter. Finally, Atria Investments Inc lifted its position in shares of AT&T by 21.9% in the 1st quarter. Atria Investments Inc now owns 447,498 shares of the technology company’s stock worth $8,618,000 after purchasing an additional 80,329 shares during the period. Institutional investors and hedge funds own 53.65% of the company’s stock.

AT&T Stock Performance

NYSE T traded up $0.40 during trading hours on Thursday, reaching $15.02. 21,902,837 shares of the company were exchanged, compared to its average volume of 38,644,918. The stock has a market capitalization of $107.38 billion, a P/E ratio of -11.98, a P/E/G ratio of 1.79 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $20.50. The business’s 50 day simple moving average is $14.52 and its 200-day simple moving average is $16.42.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $29.92 billion during the quarter, compared to analyst estimates of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. AT&T’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. On average, equities research analysts expect that AT&T Inc. will post 2.43 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Friday, July 7th. This represents a $1.11 dividend on an annualized basis and a yield of 7.39%. AT&T’s payout ratio is -90.98%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Moffett Nathanson raised AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price objective on the stock in a research note on Tuesday, June 6th. Argus lowered AT&T from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective on shares of AT&T in a research report on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of AT&T from $23.00 to $22.00 in a research report on Friday, July 14th. Finally, Citigroup upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, August 29th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.00.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.