Waters Parkerson & CO. LLC Cuts Stake in AT&T Inc. (NYSE:T)

Waters Parkerson & CO. LLC decreased its holdings in AT&T Inc. (NYSE:T) by 17.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 268,386 shares of the technology company’s stock after selling 54,882 shares during the period. Waters Parkerson & CO. LLC’s holdings in AT&T were worth $8,994,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in T. Kavar Capital Partners LLC boosted its position in AT&T by 3.0% during the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after buying an additional 2,914 shares during the period. Investment Partners LTD. boosted its position in AT&T by 36.5% during the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after buying an additional 8,892 shares during the period. JGP Wealth Management LLC boosted its position in AT&T by 2.7% during the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after buying an additional 3,373 shares during the period. Canandaigua National Bank & Trust Co. boosted its position in AT&T by 12.8% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 156,190 shares of the technology company’s stock valued at $5,234,000 after buying an additional 17,734 shares during the period. Finally, Nicolet Bankshares Inc. boosted its position in AT&T by 2.3% during the 2nd quarter. Nicolet Bankshares Inc. now owns 14,970 shares of the technology company’s stock valued at $502,000 after buying an additional 340 shares during the period. 52.63% of the stock is owned by institutional investors.

In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value 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 approximately $80,798.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

Shares of NYSE:T traded down $0.57 on Friday, hitting $34.82. The company had a trading volume of 26,517,900 shares, compared to its average volume of 31,459,616. The firm’s 50-day simple moving average is $34.02 and its two-hundred day simple moving average is $32.03. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $35.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $256.91 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 2.23 and a beta of 0.62.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. During the same period last year, the company posted $0.91 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 3.56 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.86%. AT&T’s dividend payout ratio is 57.95%.

Several brokerages have weighed in on T. Cowen increased their price target on shares of AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Raymond James increased their price target on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Desjardins reissued an “average” rating and set a $55.50 price target on shares of AT&T in a research report on Tuesday, August 6th. ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, 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 research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. AT&T presently has an average rating of “Buy” and a consensus target price of $36.52.

AT&T Company Profile

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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