YorkBridge Wealth Partners LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 9.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,909 shares of the technology company’s stock after selling 3,510 shares during the period. YorkBridge Wealth Partners LLC’s holdings in AT&T were worth $1,283,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Sicart Associates LLC increased its holdings in AT&T by 1.7% during the 3rd quarter. Sicart Associates LLC now owns 305,260 shares of the technology company’s stock valued at $11,551,000 after purchasing an additional 5,175 shares in the last quarter. Windsor Group LTD increased its holdings in AT&T by 6.1% during the 3rd quarter. Windsor Group LTD now owns 54,762 shares of the technology company’s stock valued at $2,031,000 after purchasing an additional 3,163 shares in the last quarter. Strs Ohio increased its holdings in AT&T by 4.3% during the 3rd quarter. Strs Ohio now owns 5,071,698 shares of the technology company’s stock valued at $191,913,000 after purchasing an additional 208,322 shares in the last quarter. Silver Lake Advisory LLC increased its holdings in AT&T by 16.5% during the 3rd quarter. Silver Lake Advisory LLC now owns 19,282 shares of the technology company’s stock valued at $730,000 after purchasing an additional 2,736 shares in the last quarter. Finally, BTR Capital Management Inc. increased its holdings in AT&T by 38.9% during the 3rd quarter. BTR Capital Management Inc. now owns 79,566 shares of the technology company’s stock valued at $3,011,000 after purchasing an additional 22,267 shares in the last quarter. 53.06% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:T traded down $0.10 during midday trading on Monday, hitting $38.37. The company had a trading volume of 6,770,175 shares, compared to its average volume of 26,948,048. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $38.75. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market cap of $281.69 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 2.39 and a beta of 0.63. The firm has a fifty day simple moving average of $37.12 and a 200 day simple moving average of $33.80.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.32%. AT&T’s dividend payout ratio is currently 57.95%.
A number of brokerages have commented on T. DZ Bank reiterated a “hold” rating and issued a $38.00 price objective on shares of AT&T in a research report on Wednesday, September 18th. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective (up from $35.00) on shares of AT&T in a research report on Monday, October 7th. Citigroup increased their price objective on AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective on the stock in a research report on Thursday, July 25th. Finally, Bank of America reiterated a “buy” rating on shares of AT&T in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. AT&T currently has an average rating of “Buy” and a consensus target price of $38.28.
In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now directly owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.
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.
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