BTR Capital Management Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,776 shares of the technology company’s stock after selling 4,590 shares during the period. BTR Capital Management Inc.’s holdings in AT&T were worth $2,255,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Holderness Investments Co. raised its stake in AT&T by 62.9% in the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock worth $4,008,000 after buying an additional 37,234 shares in the last quarter. Shell Asset Management Co. raised its stake in AT&T by 0.4% in the first quarter. Shell Asset Management Co. now owns 1,245,965 shares of the technology company’s stock worth $51,770,000 after buying an additional 5,354 shares in the last quarter. State of Wisconsin Investment Board raised its stake in AT&T by 11.0% in the first quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock worth $251,456,000 after buying an additional 597,735 shares in the last quarter. Westover Capital Advisors LLC raised its stake in AT&T by 4.0% in the first quarter. Westover Capital Advisors LLC now owns 74,969 shares of the technology company’s stock worth $3,115,000 after buying an additional 2,854 shares in the last quarter. Finally, Argent Capital Management LLC raised its stake in AT&T by 1.5% in the first quarter. Argent Capital Management LLC now owns 300,177 shares of the technology company’s stock worth $12,472,000 after buying an additional 4,329 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on T. Macquarie reissued a “buy” rating and issued a $43.00 price objective on shares of AT&T in a research note on Friday, September 1st. Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $44.24 price objective for the company in a research note on Thursday, September 28th. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Cowen and Company reissued a “market perform” rating and issued a $41.00 price objective (down previously from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of AT&T in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.87.
AT&T Inc. (NYSE T) traded up 0.52% on Tuesday, reaching $38.50. 7,785,499 shares of the company were exchanged. The stock has a 50-day moving average price of $37.84 and a 200 day moving average price of $38.48. The stock has a market capitalization of $236.39 billion, a price-to-earnings ratio of 18.09 and a beta of 0.49. AT&T Inc. has a 52 week low of $35.10 and a 52 week high of $43.03.
AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $39.84 billion. During the same period last year, the firm posted $0.72 EPS. AT&T’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts forecast that AT&T Inc. will post $2.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Friday, October 6th. AT&T’s payout ratio is currently 92.45%.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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