AT&T Inc. (NYSE:T) Stock Holdings Lowered by SlateStone Wealth LLC

SlateStone Wealth LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 13.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,308 shares of the technology company’s stock after selling 2,479 shares during the period. SlateStone Wealth LLC’s holdings in AT&T were worth $546,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in T. Grimes & Company Inc. grew its position in AT&T by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock valued at $1,132,000 after buying an additional 294 shares in the last quarter. Interactive Financial Advisors lifted its holdings in AT&T by 16.7% in the 2nd quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after acquiring an additional 300 shares during the last quarter. Berkshire Money Management Inc. lifted its holdings in AT&T by 3.2% in the 2nd quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after acquiring an additional 305 shares during the last quarter. Lenox Wealth Management Inc. lifted its holdings in AT&T by 6.0% in the 2nd quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after acquiring an additional 308 shares during the last quarter. Finally, Hamel Associates Inc. lifted its holdings in AT&T by 4.2% in the 2nd quarter. Hamel Associates Inc. now owns 7,825 shares of the technology company’s stock valued at $262,000 after acquiring an additional 315 shares during the last quarter. Institutional investors and hedge funds own 52.63% of the company’s stock.

T stock traded down $0.57 during mid-day trading on Friday, reaching $34.82. 26,517,900 shares of the stock traded hands, compared to its average volume of 31,459,616. 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 52-week low of $26.80 and a 52-week high of $35.50. The company has a market cap of $256.91 billion, a P/E ratio of 9.89, a P/E/G ratio of 2.23 and a beta of 0.62. The stock’s fifty day moving average is $34.02 and its 200-day moving average is $32.03.

AT&T (NYSE:T) last posted 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 in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 3.56 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date was Tuesday, July 9th. AT&T’s dividend payout ratio is presently 57.95%.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. Bank of America reissued a “buy” rating and issued a $37.00 price target on shares of AT&T in a report on Monday, June 24th. Desjardins reissued an “average” rating and issued a $55.50 price target on shares of AT&T in a report on Tuesday, August 6th. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target for the company in a report on Thursday, July 25th. Morgan Stanley reissued a “buy” rating and issued a $37.00 price target on shares of AT&T in a report on Thursday, August 1st. Finally, Cowen upped their price target on shares of AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. AT&T has an average rating of “Buy” and a consensus target price of $36.52.

About AT&T

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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