AT&T Inc. (NYSE:T) Shares Sold by Woodstock Corp

by · The Markets Daily

Woodstock Corp lowered its holdings in AT&T Inc. (NYSE:T – Free Report) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,205 shares of the technology company’s stock after selling 675 shares during the quarter. Woodstock Corp’s holdings in AT&T were worth $291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in T. Mercer Global Advisors Inc. ADV grew its position in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its holdings in AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T during the second quarter valued at $78,570,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.7 %

Shares of T stock opened at $21.37 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $153.23 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The company has a 50 day moving average price of $20.71 and a 200 day moving average price of $18.84. AT&T Inc. has a fifty-two week low of $14.23 and a fifty-two week high of $22.34.

AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.19%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several research firms have issued reports on T. Evercore ISI increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Moffett Nathanson raised their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Barclays raised their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Finally, Oppenheimer raised their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

Get Our Latest Stock Report on T

About AT&T

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

Further Reading