Keybank National Association OH reduced its holdings in AT&T Inc. (NYSE:T) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,311,368 shares of the technology company’s stock after selling 53,607 shares during the quarter. Keybank National Association OH’s holdings in AT&T were worth $77,454,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Westpac Banking Corp increased its position in shares of AT&T by 7.3% in the second quarter. Westpac Banking Corp now owns 852,265 shares of the technology company’s stock worth $28,559,000 after acquiring an additional 58,197 shares in the last quarter. Slow Capital Inc. purchased a new position in shares of AT&T in the second quarter worth approximately $325,000. Wedbush Securities Inc. increased its position in shares of AT&T by 4.2% in the second quarter. Wedbush Securities Inc. now owns 299,250 shares of the technology company’s stock worth $10,028,000 after acquiring an additional 12,102 shares in the last quarter. Blue Chip Partners Inc. increased its position in shares of AT&T by 8.4% in the second quarter. Blue Chip Partners Inc. now owns 23,072 shares of the technology company’s stock worth $773,000 after acquiring an additional 1,784 shares in the last quarter. Finally, Merriman Wealth Management LLC increased its position in shares of AT&T by 31.2% in the second quarter. Merriman Wealth Management LLC now owns 19,289 shares of the technology company’s stock worth $645,000 after acquiring an additional 4,589 shares in the last quarter. Institutional investors and hedge funds own 53.05% 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 shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the transaction, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.
T traded up $0.63 on Friday, reaching $34.97. 30,889,700 shares of the company traded hands, compared to its average volume of 34,488,428. The stock’s 50 day moving average price is $33.81 and its 200-day moving average price is $31.88. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $35.00. The company has a market cap of $250.92 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.15 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date was Tuesday, July 9th. AT&T’s payout ratio is presently 57.95%.
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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