Aevitas Wealth Management Inc. Grows Position in AT&T Inc. (NYSE:T)

Aevitas Wealth Management Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,569 shares of the technology company’s stock after buying an additional 416 shares during the period. Aevitas Wealth Management Inc.’s holdings in AT&T were worth $204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of AT&T by 102.9% in the 2nd quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock worth $1,504,524,000 after acquiring an additional 25,658,276 shares during the period. Laidlaw Wealth Management LLC raised its stake in shares of AT&T by 6,014.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 4,833,192 shares of the technology company’s stock worth $160,000 after buying an additional 4,754,142 shares during the last quarter. LSV Asset Management boosted its position in shares of AT&T by 14.8% in the 2nd quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock worth $843,455,000 after buying an additional 3,606,476 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of AT&T by 192.3% in the 2nd quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock worth $163,594,000 after buying an additional 3,560,031 shares in the last quarter. Finally, Newport Trust Co increased its holdings in AT&T by 1.7% during the 2nd quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock valued at $6,075,279,000 after acquiring an additional 3,397,127 shares in the last quarter. Institutional investors own 52.29% of the company’s stock.

AT&T stock traded down $0.46 during trading on Friday, reaching $27.82. 42,630,544 shares of the company’s stock were exchanged, compared to its average volume of 36,971,128. AT&T Inc. has a 52-week low of $26.08 and a 52-week high of $39.70. The firm has a market cap of $198.22 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day moving average is $28.47 and its two-hundred day moving average is $29.69.

AT&T (NYSE:T) last posted its quarterly earnings data 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 net margin of 6.84% and a return on equity of 13.03%. The firm had revenue of $42.43 billion for the quarter, compared to analysts’ expectations of $41.66 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 3.2 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.08 dividend on an annualized basis and a yield of 7.48%. AT&T’s dividend payout ratio is currently 58.26%.

T has been the topic of several research reports. Wolfe Research started coverage on shares of AT&T in a research report on Monday, October 19th. They issued a “peer perform” rating and a $31.00 price target on the stock. Morgan Stanley lowered their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Scotiabank cut AT&T from a “sector perform” rating to a “sector underperform” rating and cut their price target for the stock from $34.00 to $30.00 in a report on Monday, August 31st. Oppenheimer reaffirmed a “buy” rating and set a $38.00 price objective on shares of AT&T in a research note on Thursday, October 1st. Finally, KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a research note on Monday, October 5th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.38.

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

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