Becker Capital Management Inc. Sells 17,564 Shares of AT&T Inc. (NYSE:T)

Becker Capital Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,104,195 shares of the technology company’s stock after selling 17,564 shares during the quarter. AT&T comprises 1.3% of Becker Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. Becker Capital Management Inc.’s holdings in AT&T were worth $29,824,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Boston Common Asset Management LLC grew its holdings in AT&T by 6.9% in the 2nd quarter. Boston Common Asset Management LLC now owns 321,322 shares of the technology company’s stock valued at $9,248,000 after buying an additional 20,665 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in AT&T by 4.3% in the 2nd quarter. Meridian Wealth Management LLC now owns 166,644 shares of the technology company’s stock valued at $4,796,000 after buying an additional 6,864 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of AT&T by 16.5% during the 2nd quarter. Bank of Montreal Can now owns 14,173,739 shares of the technology company’s stock worth $456,111,000 after purchasing an additional 2,004,083 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of AT&T by 26.2% during the 2nd quarter. Gabelli Funds LLC now owns 469,300 shares of the technology company’s stock worth $13,506,000 after purchasing an additional 97,400 shares in the last quarter. Finally, Toroso Investments LLC grew its holdings in shares of AT&T by 220.7% during the 2nd quarter. Toroso Investments LLC now owns 148,978 shares of the technology company’s stock worth $4,288,000 after purchasing an additional 102,530 shares in the last quarter. 51.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of T traded down $0.29 during mid-day trading on Thursday, reaching $24.47. 33,684,130 shares of the company were exchanged, compared to its average volume of 41,300,453. AT&T Inc. has a 52 week low of $23.96 and a 52 week high of $33.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $174.72 billion, a PE ratio of 203.93, a PEG ratio of 2.01 and a beta of 0.70. The business has a 50 day simple moving average of $25.85 and a two-hundred day simple moving average of $27.66.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 20th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.09. The company had revenue of $39.90 billion during the quarter, compared to the consensus estimate of $42.37 billion. AT&T had a return on equity of 13.47% and a net margin of 0.67%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, analysts predict that AT&T Inc. will post 3.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 1st. Shareholders of record on Monday, October 11th were issued a $0.52 dividend. The ex-dividend date was Thursday, October 7th. This represents a $2.08 dividend on an annualized basis and a yield of 8.50%. AT&T’s payout ratio is currently 1,733.48%.

In other AT&T news, Director Stephen J. Luczo bought 100,000 shares of the stock in a transaction on Monday, November 8th. The stock was acquired at an average cost of $25.04 per share, for a total transaction of $2,504,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

T has been the topic of several analyst reports. Moffett Nathanson raised AT&T from a “sell” rating to a “neutral” rating and increased their target price for the stock from $23.00 to $28.00 in a report on Thursday, October 7th. Citigroup reduced their price objective on AT&T from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, October 19th. Loop Capital initiated coverage on AT&T in a research note on Monday, September 20th. They issued a “hold” rating and a $30.00 price objective on the stock. Barclays reduced their price objective on AT&T from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, October 11th. Finally, KeyCorp raised AT&T from an “underweight” rating to a “sector weight” rating in a research note on Thursday, October 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.13.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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