Berkeley Capital Partners LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Berkeley Capital Partners LLC lessened its holdings in AT&T Inc. (NYSE:T) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,187 shares of the technology company’s stock after selling 2,836 shares during the period. AT&T comprises approximately 0.6% of Berkeley Capital Partners LLC’s holdings, making the stock its 22nd biggest holding. Berkeley Capital Partners LLC’s holdings in AT&T were worth $1,003,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lion Street Advisors LLC purchased a new position in shares of AT&T in the 1st quarter valued at $27,000. Horan Securities Inc. purchased a new position in shares of AT&T in the 1st quarter valued at $28,000. CBIZ Investment Advisory Services LLC raised its stake in shares of AT&T by 186.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock valued at $28,000 after acquiring an additional 623 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in AT&T during the 1st quarter worth $34,000. Finally, Efficient Wealth Management LLC purchased a new stake in AT&T during the 1st quarter worth $35,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Stephen J. Luczo acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were purchased at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

Several equities research analysts recently issued reports on T shares. Barclays reaffirmed a “hold” rating and set a $33.00 price target on shares of AT&T in a research note on Friday, April 17th. Guggenheim dropped their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Royal Bank of Canada dropped their price target on shares of AT&T from $38.00 to $32.00 in a research note on Friday, July 24th. Deutsche Bank decreased their price objective on shares of AT&T from $45.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, DZ Bank lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $26.00 price objective for the company. in a report on Friday, April 24th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $35.29.

NYSE:T traded up $0.01 during mid-day trading on Friday, hitting $29.58. The stock had a trading volume of 38,694,208 shares, compared to its average volume of 32,539,284. The stock has a market capitalization of $212.40 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.67 and a beta of 0.72. The company has a 50 day simple moving average of $30.01 and a 200-day simple moving average of $32.47. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79.

AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The firm had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. AT&T’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.89 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 3.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $2.08 annualized dividend and a yield of 7.03%. AT&T’s dividend payout ratio is presently 58.26%.

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

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