AT&T Inc. (NYSE:T) Stake Lowered by Massey Quick Simon & CO. LLC

Massey Quick Simon & CO. LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 40.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 also recently bought and sold shares of the company. Kavar Capital Partners LLC lifted its position in AT&T by 3.0% during the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock worth $3,318,000 after acquiring an additional 2,914 shares during the last quarter. Investment Partners LTD. lifted its position in AT&T by 36.5% during the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock worth $1,114,000 after acquiring an additional 8,892 shares during the last quarter. JGP Wealth Management LLC lifted its position in AT&T by 2.7% during the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock worth $4,363,000 after acquiring an additional 3,373 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its position in AT&T by 12.8% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 156,190 shares of the technology company’s stock worth $5,234,000 after acquiring an additional 17,734 shares during the last quarter. Finally, Nicolet Bankshares Inc. lifted its position in AT&T by 2.3% during the 2nd quarter. Nicolet Bankshares Inc. now owns 14,970 shares of the technology company’s stock worth $502,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 52.63% of the company’s stock.

T has been the subject of a number of research analyst reports. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research report on Thursday, July 25th. Raymond James boosted their target price on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley reissued a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Thursday, August 1st. Desjardins reissued an “average” rating and set a $55.50 target price on shares of AT&T in a research report on Tuesday, August 6th. Finally, ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $36.52.



In other news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

Shares of T traded down $0.04 during trading hours on Friday, reaching $35.35. 1,624,273 shares of the company traded hands, compared to its average volume of 32,778,042. The stock’s fifty day moving average is $34.00 and its 200 day moving average is $32.01. The stock has a market cap 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 1-year low of $26.80 and a 1-year high of $35.50.

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. The business had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 3.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders 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 dividend yield of 5.77%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s dividend payout ratio is currently 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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