Guggenheim Capital LLC Cuts Position in AT&T Inc. (NYSE:T)

Guggenheim Capital LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 11.3% in the 3rd quarter, Holdings reports. The institutional investor owned 1,429,329 shares of the technology company’s stock after selling 182,524 shares during the period. Guggenheim Capital LLC’s holdings in AT&T were worth $40,750,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of T. NWK Group Inc. bought a new position in shares of AT&T in the second quarter worth $65,000. Cerebellum GP LLC purchased a new position in shares of AT&T during the 3rd quarter worth approximately $62,000. Provident Wealth Management LLC bought a new position in AT&T in the third quarter worth $70,000. Planned Solutions Inc. purchased a new position in AT&T during the 3rd quarter valued at about $81,000. Finally, Litman Gregory Asset Management LLC lifted its holdings in shares of AT&T by 844.0% during the second quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,667 shares during the last quarter. Institutional investors own 52.29% of the company’s stock.

Shares of NYSE:T traded down $0.11 on Monday, reaching $28.92. 386,410 shares of the company traded hands, compared to its average volume of 39,172,031. The stock has a market capitalization of $206.87 billion, a PE ratio of 17.81, a P/E/G ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day moving average is $27.91 and its 200-day moving average is $29.33. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.55.

AT&T (NYSE:T) last announced its earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company had revenue of $42.43 billion for the quarter, compared to analyst estimates of $41.66 billion. During the same period last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, analysts expect that AT&T Inc. will post 3.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date was Thursday, October 8th. AT&T’s dividend payout ratio is presently 58.26%.

Several analysts recently commented on the company. National Bank Financial raised AT&T to an “outperform” rating and lifted their price objective for the stock from $25.00 to $27.00 in a report on Monday, November 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Barclays started coverage on shares of AT&T in a research report on Friday, October 2nd. They issued an “overweight” rating for the company. Royal Bank of Canada lowered their price objective on AT&T from $32.00 to $30.00 in a report on Monday, October 26th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $38.00 price target on shares of AT&T in a report on Thursday, October 1st. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $32.50.

About AT&T

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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