AT&T Inc. (NYSE:T) Shares Sold by Massey Quick Simon & CO. LLC

Massey Quick Simon & CO. LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 40.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,251 shares of the technology company’s stock after selling 845 shares during the period. Massey Quick Simon & CO. LLC’s holdings in AT&T were worth $42,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in T. Nordea Investment Management AB boosted its stake in AT&T by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after acquiring an additional 3,097,958 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in AT&T by 6.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 15,100,000 shares of the technology company’s stock valued at $506,001,000 after acquiring an additional 900,000 shares during the period. Clearbridge Investments LLC boosted its stake in AT&T by 2.3% in the first quarter. Clearbridge Investments LLC now owns 14,581,520 shares of the technology company’s stock valued at $457,276,000 after acquiring an additional 325,895 shares during the period. Rhumbline Advisers boosted its stake in AT&T by 0.9% in the fourth quarter. Rhumbline Advisers now owns 12,905,393 shares of the technology company’s stock valued at $368,320,000 after acquiring an additional 113,996 shares during the period. Finally, First Trust Advisors LP boosted its stake in AT&T by 24.0% in the second quarter. First Trust Advisors LP now owns 10,154,439 shares of the technology company’s stock valued at $340,275,000 after acquiring an additional 1,964,977 shares during the period. Institutional investors own 52.63% of the company’s stock.

In related news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by insiders.

A number of equities analysts have commented on T shares. Cowen lifted their target price on AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Raymond James lifted their target price on AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley restated a “buy” rating and issued a $37.00 target price on shares of AT&T in a research note on Thursday, August 1st. ValuEngine downgraded AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. AT&T currently has a consensus rating of “Buy” and an average target price of $36.52.

Shares of T traded down $0.04 during mid-day trading on Friday, reaching $35.35. 1,624,273 shares of the company’s stock traded hands, compared to its average volume of 32,778,042. The business’s 50-day moving average price is $34.00 and its 200-day moving average price is $32.01. The stock has a market capitalization of $255.60 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $35.50.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.51 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 annualized dividend and a yield of 5.77%. AT&T’s payout ratio is 57.95%.

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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