VERITY Wealth Advisors reduced its position in shares of AT&T Inc. (NYSE:T) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,520 shares of the technology company’s stock after selling 596 shares during the period. VERITY Wealth Advisors’ holdings in AT&T were worth $286,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in shares of AT&T by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after purchasing an additional 3,097,958 shares during the period. State of New Jersey Common Pension Fund D boosted its position in AT&T by 6.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 15,100,000 shares of the technology company’s stock worth $506,001,000 after acquiring an additional 900,000 shares during the period. Clearbridge Investments LLC boosted its position in AT&T by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 14,581,520 shares of the technology company’s stock worth $457,276,000 after acquiring an additional 325,895 shares during the period. Rhumbline Advisers boosted its position in AT&T by 0.9% during the 4th quarter. Rhumbline Advisers now owns 12,905,393 shares of the technology company’s stock worth $368,320,000 after acquiring an additional 113,996 shares during the period. Finally, First Trust Advisors LP boosted its position in AT&T by 24.0% during the 2nd quarter. First Trust Advisors LP now owns 10,154,439 shares of the technology company’s stock worth $340,275,000 after acquiring an additional 1,964,977 shares during the period. 52.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of T traded down $0.31 on Tuesday, reaching $35.07. 357,439 shares of the stock traded hands, compared to its average volume of 34,435,740. The firm has a market cap of $255.53 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 2.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $35.44. The stock’s 50-day moving average price is $33.92 and its 200-day moving average price is $31.93.
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. The business had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. AT&T’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.82%. The ex-dividend date was Tuesday, July 9th. AT&T’s dividend payout ratio is 57.95%.
T has been the subject of a number of research reports. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. Bank of America restated a “buy” rating and set a $37.00 price objective on shares of AT&T in a research report on Monday, June 24th. Cowen raised their price objective on AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Desjardins restated an “average” rating and set a $55.50 price objective on shares of AT&T in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.72.
In related news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value 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 SEC, which is available through this link. 0.07% of the stock is owned by insiders.
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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