Becker Capital Management Inc. Sells 17,564 Shares of AT&T Inc. (NYSE:T)

Becker Capital Management Inc. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 1.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,104,195 shares of the technology company’s stock after selling 17,564 shares during the quarter. AT&T makes up 1.3% of Becker Capital Management Inc.’s portfolio, making the stock its 26th largest position. Becker Capital Management Inc.’s holdings in AT&T were worth $29,824,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC raised its stake in shares of AT&T by 6.9% during the 2nd quarter. Boston Common Asset Management LLC now owns 321,322 shares of the technology company’s stock valued at $9,248,000 after purchasing an additional 20,665 shares during the period. Meridian Wealth Management LLC grew its position in AT&T by 4.3% during the second quarter. Meridian Wealth Management LLC now owns 166,644 shares of the technology company’s stock worth $4,796,000 after buying an additional 6,864 shares in the last quarter. Bank of Montreal Can grew its position in AT&T by 16.5% during the second quarter. Bank of Montreal Can now owns 14,173,739 shares of the technology company’s stock worth $456,111,000 after buying an additional 2,004,083 shares in the last quarter. Gabelli Funds LLC grew its position in AT&T by 26.2% during the second quarter. Gabelli Funds LLC now owns 469,300 shares of the technology company’s stock worth $13,506,000 after buying an additional 97,400 shares in the last quarter. Finally, Toroso Investments LLC grew its position in AT&T by 220.7% during the second quarter. Toroso Investments LLC now owns 148,978 shares of the technology company’s stock worth $4,288,000 after buying an additional 102,530 shares in the last quarter. Institutional investors own 51.42% of the company’s stock.

In related news, Director Stephen J. Luczo acquired 100,000 shares of AT&T stock in a transaction that occurred on Monday, November 8th. The stock was bought at an average price of $25.04 per share, with a total value of $2,504,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

Shares of NYSE:T traded down $0.29 during trading on Thursday, hitting $24.47. The stock had a trading volume of 33,684,130 shares, compared to its average volume of 41,300,453. AT&T Inc. has a 12 month low of $23.96 and a 12 month high of $33.88. The company has a market capitalization of $174.72 billion, a PE ratio of 203.93, a PEG ratio of 2.01 and a beta of 0.70. The firm’s fifty day moving average is $25.85 and its 200 day moving average is $27.66. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 0.86.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 20th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.09. AT&T had a return on equity of 13.47% and a net margin of 0.67%. The firm had revenue of $39.90 billion during the quarter, compared to analyst estimates of $42.37 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The business’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts expect that AT&T Inc. will post 3.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Monday, October 11th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date was Thursday, October 7th. AT&T’s dividend payout ratio (DPR) is presently 1,733.48%.

Several equities analysts recently commented on T shares. Citigroup reduced their target price on AT&T from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, October 19th. Loop Capital assumed coverage on AT&T in a report on Monday, September 20th. They issued a “hold” rating and a $30.00 price objective for the company. KeyCorp upgraded AT&T from an “underweight” rating to a “sector weight” rating in a report on Thursday, October 14th. Barclays cut their price objective on AT&T from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, October 11th. Finally, Moffett Nathanson upgraded AT&T from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $28.00 in a report on Thursday, October 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.13.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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