Schwab Charles Investment Management Inc. Acquires 666,580 Shares of AT&T Inc. (T)

Schwab Charles Investment Management Inc. raised its holdings in shares of AT&T Inc. (NYSE:T) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,035,221 shares of the technology company’s stock after purchasing an additional 666,580 shares during the quarter. AT&T accounts for approximately 0.8% of Schwab Charles Investment Management Inc.’s portfolio, making the stock its 17th largest position. Schwab Charles Investment Management Inc.’s holdings in AT&T were worth $941,460,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sfmg LLC boosted its holdings in AT&T by 58.5% during the 3rd quarter. Sfmg LLC now owns 48,102 shares of the technology company’s stock worth $1,884,000 after acquiring an additional 17,748 shares during the last quarter. Telos Capital Management Inc. boosted its holdings in AT&T by 4.8% during the 2nd quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after acquiring an additional 3,197 shares during the last quarter. Welch Investments LLC boosted its holdings in AT&T by 9.3% during the 2nd quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock worth $4,122,000 after acquiring an additional 9,291 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in AT&T by 11.3% during the 2nd quarter. Moors & Cabot Inc. now owns 247,888 shares of the technology company’s stock worth $9,373,000 after acquiring an additional 25,167 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in AT&T by 9.7% during the 2nd quarter. Wedbush Securities Inc. now owns 176,333 shares of the technology company’s stock worth $6,653,000 after acquiring an additional 15,562 shares during the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.

In related news, EVP John T. Stankey sold 2,307 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $39.21, for a total value of $90,457.47. Following the sale, the executive vice president now directly owns 51,672 shares in the company, valued at approximately $2,026,059.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Donovan acquired 27,997 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $35.68 per share, for a total transaction of $998,932.96. Following the completion of the purchase, the chief executive officer now directly owns 179,834 shares in the company, valued at approximately $6,416,477.12. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

A number of equities analysts have issued reports on the stock. Vetr downgraded shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $40.01 price objective on the stock. in a report on Tuesday. Bank of America boosted their price target on shares of AT&T from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. KeyCorp boosted their price target on shares of AT&T from $35.00 to $38.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Robert W. Baird cut their price target on shares of AT&T from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $41.92.

Shares of AT&T Inc. (NYSE T) opened at $36.41 on Thursday. AT&T Inc. has a 52 week low of $32.55 and a 52 week high of $42.70. The stock has a market capitalization of $223,520.00, a PE ratio of 22.48, a P/E/G ratio of 2.51 and a beta of 0.37. The company has a quick ratio of 1.60, a current ratio of 0.97 and a debt-to-equity ratio of 0.89.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.13. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The business had revenue of $41.68 billion for the quarter, compared to analysts’ expectations of $41.21 billion. During the same period in the previous year, the business posted $0.66 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. equities analysts anticipate that AT&T Inc. will post 3.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a $0.50 dividend. This is a boost from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Tuesday, January 9th. AT&T’s payout ratio is currently 123.46%.

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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.

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

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