AT&T Inc. (NYSE:T) Stake Lessened by Stearns Financial Services Group

Stearns Financial Services Group cut its position in AT&T Inc. (NYSE:T) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,296 shares of the technology company’s stock after selling 2,933 shares during the period. Stearns Financial Services Group’s holdings in AT&T were worth $1,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of T. Almanack Investment Partners LLC. bought a new position in shares of AT&T in the 1st quarter valued at about $109,000. Sterling Investment Advisors Ltd. lifted its stake in shares of AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock worth $113,000 after buying an additional 2,024 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of AT&T during the 2nd quarter worth about $134,000. CKW Financial Group lifted its stake in shares of AT&T by 83.9% during the 2nd quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock worth $144,000 after buying an additional 1,724 shares during the last quarter. Finally, Israel Discount Bank of New York lifted its stake in shares of AT&T by 0.6% during the 2nd quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock worth $154,000 after buying an additional 25 shares during the last quarter. Institutional investors own 55.76% of the company’s stock.

In other AT&T news, Director Matthew K. Rose acquired 29,600 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were acquired at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now directly owns 3,100 shares in the company, valued at $104,625. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Several analysts have weighed in on the stock. Vetr upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $39.60 price objective for the company in a research note on Wednesday. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a report on Friday. Oppenheimer reissued a “hold” rating on shares of AT&T in a report on Wednesday, October 25th. Canaccord Genuity reissued a “buy” rating and issued a $51.00 target price on shares of AT&T in a report on Friday, November 10th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $43.00 price target on shares of AT&T in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. AT&T presently has an average rating of “Hold” and an average price target of $42.59.

AT&T Inc. (NYSE T) traded up $0.42 during midday trading on Friday, hitting $36.90. 31,180,000 shares of the stock traded hands, compared to its average volume of 31,670,000. AT&T Inc. has a 12-month low of $32.55 and a 12-month high of $42.70. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $226,530.00, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.14 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The company had revenue of $39.67 billion for the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. AT&T’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. equities analysts forecast that AT&T Inc. will post 2.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.42%. AT&T’s dividend payout ratio is 96.15%.

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About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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

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