Douglas Lane & Associates LLC Trims Stake in AT&T Inc. (T)

Douglas Lane & Associates LLC cut its holdings in AT&T Inc. (NYSE:T) by 26.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,546 shares of the technology company’s stock after selling 7,132 shares during the period. Douglas Lane & Associates LLC’s holdings in AT&T were worth $766,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Israel Discount Bank of New York boosted its position in AT&T by 0.6% in the 2nd quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after buying an additional 25 shares during the period. Greatmark Investment Partners Inc. boosted its position in AT&T by 0.4% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 12,998 shares of the technology company’s stock valued at $490,000 after buying an additional 53 shares during the period. Cim LLC boosted its position in AT&T by 1.0% in the 2nd quarter. Cim LLC now owns 6,399 shares of the technology company’s stock valued at $241,000 after buying an additional 62 shares during the period. Stratford Consulting LLC boosted its position in AT&T by 0.9% in the 2nd quarter. Stratford Consulting LLC now owns 7,277 shares of the technology company’s stock valued at $275,000 after buying an additional 68 shares during the period. Finally, Moon Capital Management LLC boosted its position in AT&T by 0.3% in the 2nd quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock valued at $824,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 55.76% of the company’s stock.

AT&T Inc. (T) opened at $38.94 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.60 and a current ratio of 1.60. AT&T Inc. has a 52 week low of $32.55 and a 52 week high of $43.03. The stock has a market cap of $239,050.00, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 3.23 and a beta of 0.44.

AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. AT&T had a return on equity of 9.73% and a net margin of 7.87%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. equities research analysts expect that AT&T Inc. will post 2.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 5.14%. AT&T’s dividend payout ratio is 94.23%.

Several equities research analysts have issued reports on the stock. Macquarie reissued a “buy” rating and issued a $43.00 price objective on shares of AT&T in a research report 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 report on Thursday, September 28th. KeyCorp reissued a “hold” rating on shares of AT&T in a research report on Wednesday, October 11th. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Robert W. Baird lowered their price objective on shares of AT&T from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $42.83.

In other news, Director Matthew K. Rose purchased 29,600 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were purchased at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now owns 3,100 shares of the company’s stock, valued at approximately $104,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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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.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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