Woodstock Corp Cuts Stake in AT&T Inc. (NYSE:T)

Woodstock Corp lowered its position in shares of AT&T Inc. (NYSE:T) by 3.3% in the third quarter, Holdings Channel reports. The institutional investor owned 43,595 shares of the technology company’s stock after selling 1,470 shares during the period. Woodstock Corp’s holdings in AT&T were worth $1,650,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in T. Horan Securities Inc. grew its stake in shares of AT&T by 439.2% during the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares during the period. Next Capital Management LLC acquired a new position in shares of AT&T during the 2nd quarter worth $39,000. Contravisory Investment Management Inc. grew its stake in shares of AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after purchasing an additional 338 shares during the period. West Oak Capital LLC grew its stake in shares of AT&T by 33.3% during the 3rd quarter. West Oak Capital LLC now owns 1,600 shares of the technology company’s stock worth $61,000 after purchasing an additional 400 shares during the period. Finally, Smart Portfolios LLC grew its stake in shares of AT&T by 44.8% during the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after purchasing an additional 500 shares during the period. Institutional investors own 53.02% of the company’s stock.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’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 sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. They noted that the move was a valuation call. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective on the stock in a research note on Thursday, July 25th. Oppenheimer set a $41.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. set a $39.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. AT&T presently has an average rating of “Buy” and a consensus price target of $38.10.

NYSE T traded up $0.02 during trading hours on Thursday, reaching $37.10. The company’s stock had a trading volume of 14,779,377 shares, compared to its average volume of 38,664,228. The stock has a market cap of $270.83 billion, a PE ratio of 10.54, a PEG ratio of 2.38 and a beta of 0.63. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $38.75. The company’s 50-day moving average is $36.25 and its two-hundred day moving average is $33.27. 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 (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same period last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.51 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.50%. AT&T’s dividend payout ratio is currently 57.95%.

AT&T 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.

Further Reading: Do equity income investments outperform growth and income investments?

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

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