AllSquare Wealth Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,141 shares of the technology company’s stock after selling 450 shares during the period. AT&T makes up about 0.5% of AllSquare Wealth Management LLC’s portfolio, making the stock its 28th biggest holding. AllSquare Wealth Management LLC’s holdings in AT&T were worth $649,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in T. Nuveen Asset Management LLC increased its stake in AT&T by 1,723.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after acquiring an additional 43,525,113 shares during the period. Vanguard Group Inc. increased its stake in AT&T by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after acquiring an additional 6,744,699 shares during the period. Morgan Stanley increased its stake in AT&T by 11.2% during the 2nd quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after acquiring an additional 5,931,167 shares during the period. California Public Employees Retirement System increased its stake in AT&T by 18.1% during the 3rd quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock worth $1,060,292,000 after acquiring an additional 4,292,231 shares during the period. Finally, Covenant Multifamily Offices LLC bought a new position in AT&T during the 2nd quarter worth $81,364,000. 52.89% of the stock is owned by institutional investors and hedge funds.
T has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. SunTrust Banks raised their price objective on AT&T to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target on the stock in a research note on Thursday, July 25th. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Standpoint Research lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. AT&T has a consensus rating of “Hold” and an average price target of $40.74.
Shares of T opened at $39.17 on Wednesday. The company has a market capitalization of $286.14 billion, a PE ratio of 11.13, a PEG ratio of 2.48 and a beta of 0.64. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $39.58. The stock’s 50-day moving average price is $37.96 and its two-hundred day moving average price is $34.56. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.79.
AT&T (NYSE:T) last announced its earnings results on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $44.59 billion for the quarter, compared to the consensus estimate of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. Equities research analysts predict that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Wednesday, October 9th. AT&T’s payout ratio is presently 57.95%.
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.
See Also: What is the Bid-Ask Spread?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.