AT&T Inc. (NYSE:T) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its holdings in AT&T Inc. (NYSE:TGet Rating) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 361,131 shares of the technology company’s stock after selling 9,628 shares during the period. Meyer Handelman Co.’s holdings in AT&T were worth $7,570,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of AT&T in the 4th quarter valued at approximately $1,740,054,000. Vanguard Group Inc. increased its holdings in shares of AT&T by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 585,666,367 shares of the technology company’s stock valued at $13,839,297,000 after acquiring an additional 13,066,523 shares during the last quarter. State Street Corp increased its holdings in shares of AT&T by 3.8% in the 4th quarter. State Street Corp now owns 317,213,113 shares of the technology company’s stock valued at $7,803,443,000 after acquiring an additional 11,494,986 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of AT&T by 71.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,743,313 shares of the technology company’s stock valued at $561,054,000 after acquiring an additional 9,921,029 shares during the last quarter. Finally, Capital World Investors grew its stake in AT&T by 18.5% during the 1st quarter. Capital World Investors now owns 55,989,998 shares of the technology company’s stock worth $1,323,044,000 after buying an additional 8,729,013 shares during the last quarter. 52.88% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 2.0 %

Shares of NYSE T traded down $0.33 during mid-day trading on Friday, reaching $15.91. 864,982 shares of the company traded hands, compared to its average volume of 39,460,580. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market cap of $113.37 billion, a PE ratio of 5.87, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The company’s fifty day moving average is $18.00 and its two-hundred day moving average is $20.03. AT&T Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $21.53.

AT&T (NYSE:TGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The business had revenue of $29.64 billion for the quarter, compared to analyst estimates of $29.48 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 2.54 earnings per share for the current year.

AT&T Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, July 8th. This represents a $1.11 annualized dividend and a yield of 6.98%. AT&T’s payout ratio is 40.81%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. Raymond James restated an “outperform” rating and set a $26.00 price objective on shares of AT&T in a research note on Thursday, July 7th. Barclays downgraded AT&T from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research note on Friday, July 22nd. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial decreased their price target on AT&T to $21.00 in a research note on Friday, July 22nd. Finally, Tigress Financial decreased their price target on AT&T from $31.00 to $28.00 in a research note on Thursday, June 16th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.41.

About AT&T

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

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