Rockefeller Capital Management L.P. Reduces Stock Holdings in AT&T Inc. $T

Rockefeller Capital Management L.P. reduced its stake in shares of AT&T Inc. (NYSE:T) by 40.3% during the second quarter, Holdings Channel reports. The firm owned 2,876,768 shares of the technology company’s stock after selling 1,943,779 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in AT&T were worth $83,339,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of AT&T in the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter valued at $26,000. Kennebec Savings Bank increased its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Solstein Capital LLC raised its holdings in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Finally, IMA Advisory Services Inc. bought a new position in shares of AT&T in the first quarter worth about $29,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on T shares. Wells Fargo & Company dropped their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. KeyCorp raised shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Tuesday. Williams Trading set a $33.00 price objective on shares of AT&T in a research report on Thursday, October 23rd. TD Cowen raised their price target on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada dropped their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.64.

AT&T Trading Down 0.7%

Shares of AT&T stock opened at $25.58 on Friday. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The firm has a market capitalization of $181.31 billion, a PE ratio of 8.30, a P/E/G ratio of 2.16 and a beta of 0.40. The firm’s 50-day moving average price is $26.75 and its 200 day moving average price is $27.56. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.