Banco Santander S.A. Cuts Holdings in AT&T Inc. (NYSE:T)

Banco Santander S.A. decreased its stake in shares of AT&T Inc. (NYSE:TGet Rating) by 69.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,597 shares of the technology company’s stock after selling 632,552 shares during the quarter. Banco Santander S.A.’s holdings in AT&T were worth $4,897,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SWS Partners purchased a new position in shares of AT&T in the 1st quarter valued at about $25,000. KRS Capital Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at about $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of AT&T in the 1st quarter valued at about $27,000. Missouri Trust & Investment Co purchased a new position in shares of AT&T in the 4th quarter valued at about $34,000. Finally, SBK Financial Inc. purchased a new position in shares of AT&T in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 53.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on T. Cowen dropped their price target on AT&T from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, July 22nd. Barclays downgraded AT&T from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $34.00 to $22.00 in a research note on Monday, April 11th. Tigress Financial dropped their price target on AT&T from $31.00 to $28.00 in a research note on Thursday, June 16th. Finally, Royal Bank of Canada decreased their price objective on AT&T from $30.00 to $20.00 and set a “sector perform” rating for the company in a research report on Monday, April 25th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.89.

AT&T Stock Performance

AT&T stock opened at $18.35 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.65 and a current ratio of 0.72. The stock has a fifty day moving average of $20.11 and a two-hundred day moving average of $21.67. The company has a market capitalization of $131.37 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 1.98 and a beta of 0.47. AT&T Inc. has a fifty-two week low of $16.62 and a fifty-two week high of $21.53.

AT&T (NYSE:TGet Rating) last released its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a return on equity of 13.09% and a net margin of 13.41%. AT&T’s revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.51 EPS for the current fiscal year.

AT&T Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend was Friday, July 8th. AT&T’s payout ratio is currently 40.81%.

AT&T Company Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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

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