Plimoth Trust Co. LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 216,711 shares of the technology company’s stock after selling 911 shares during the quarter. AT&T makes up approximately 2.4% of Plimoth Trust Co. LLC’s portfolio, making the stock its 6th largest holding. Plimoth Trust Co. LLC’s holdings in AT&T were worth $7,262,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB boosted its position in AT&T by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock worth $610,299,000 after purchasing an additional 3,097,958 shares during the period. Covenant Multifamily Offices LLC bought a new position in AT&T during the second quarter worth about $81,364,000. Oregon Public Employees Retirement Fund boosted its position in AT&T by 140.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,387,550 shares of the technology company’s stock worth $96,681,000 after purchasing an additional 1,978,124 shares during the period. First Trust Advisors LP boosted its position in AT&T by 24.0% during the second quarter. First Trust Advisors LP now owns 10,154,439 shares of the technology company’s stock worth $340,275,000 after purchasing an additional 1,964,977 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in AT&T by 34.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 6,924,472 shares of the technology company’s stock worth $229,188,000 after purchasing an additional 1,762,632 shares during the period. Institutional investors own 52.63% of the company’s stock.
A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Thursday, August 1st. Bank of America reiterated a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Monday, June 24th. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research report on Thursday, July 25th. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Cowen increased their target price on shares of AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. AT&T presently has a consensus rating of “Buy” and a consensus target price of $36.52.
Shares of T stock traded down $0.04 during trading hours on Friday, reaching $35.35. The stock had a trading volume of 1,624,273 shares, compared to its average volume of 32,778,042. The stock’s fifty day simple moving average is $34.00 and its 200 day simple moving average is $32.01. 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 Inc. has a 12 month low of $26.80 and a 12 month high of $35.50. The firm has a market capitalization of $255.60 billion, a PE ratio of 10.04, a PEG ratio of 2.22 and a beta of 0.62.
AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 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 company had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. During the same period last year, the business earned $0.91 earnings per share. AT&T’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 3.56 EPS for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date was Tuesday, July 9th. AT&T’s dividend payout ratio is currently 57.95%.
In related news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.
AT&T Company Profile
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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