Banco Santander S.A. trimmed its position in AT&T Inc. (NYSE:T – Get Rating) by 69.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,597 shares of the technology company’s stock after selling 632,552 shares during the period. Banco Santander S.A.’s holdings in AT&T were worth $4,897,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. SWS Partners acquired a new stake in AT&T in the first quarter worth approximately $25,000. KRS Capital Management LLC acquired a new stake in shares of AT&T during the 4th quarter valued at $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of AT&T during the 1st quarter valued at $27,000. Missouri Trust & Investment Co acquired a new stake in shares of AT&T during the 4th quarter valued at $34,000. Finally, SBK Financial Inc. acquired a new stake in shares of AT&T during the 4th quarter valued at $35,000. 53.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Wolfe Research cut their price objective on AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. The Goldman Sachs Group began coverage on AT&T in a research report on Monday, April 25th. They set a “buy” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and cut their target price for the company from $34.00 to $22.00 in a research note on Monday, April 11th. Wells Fargo & Company cut their target price on shares of AT&T to $22.00 in a research note on Friday, July 22nd. Finally, Truist Financial cut their target price on shares of AT&T to $21.00 in a research note on Friday, July 22nd. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Hold” and an average price target of $23.89.
AT&T Price Performance
AT&T (NYSE:T – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The company had revenue of $29.64 billion for the quarter, compared to analysts’ expectations of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.09%. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. As a group, analysts anticipate that AT&T Inc. will post 2.51 earnings per share for the current year.
AT&T Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 annualized dividend and a yield of 6.05%. AT&T’s payout ratio is currently 40.81%.
AT&T Company Profile
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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