Sequent Asset Management LLC Raises Stake in AT&T Inc. (NYSE:T)

Sequent Asset Management LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,321 shares of the technology company’s stock after purchasing an additional 700 shares during the period. AT&T makes up about 0.7% of Sequent Asset Management LLC’s holdings, making the stock its 25th largest position. Sequent Asset Management LLC’s holdings in AT&T were worth $996,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Grimes & Company Inc. lifted its holdings in AT&T by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock valued at $1,132,000 after purchasing an additional 294 shares in the last quarter. Interactive Financial Advisors lifted its holdings in AT&T by 16.7% in the 2nd quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after purchasing an additional 300 shares in the last quarter. Berkshire Money Management Inc. lifted its holdings in AT&T by 3.2% in the 2nd quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after purchasing an additional 305 shares in the last quarter. Oxbow Advisors LLC lifted its holdings in AT&T by 0.4% in the 2nd quarter. Oxbow Advisors LLC now owns 86,471 shares of the technology company’s stock valued at $2,898,000 after purchasing an additional 305 shares in the last quarter. Finally, Lenox Wealth Management Inc. lifted its holdings in AT&T by 6.0% in the 2nd quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 53.02% of the company’s stock.

A number of research analysts have issued reports on the stock. DZ Bank restated a “hold” rating and issued a $38.00 target price on shares of AT&T in a report on Wednesday, September 18th. JPMorgan Chase & Co. set a $39.00 target price on shares of AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Raymond James restated an “outperform” rating and issued a $40.00 target price (up from $35.00) on shares of AT&T in a report on Monday. Finally, Cowen set a $40.00 target price on shares of AT&T and gave the company a “buy” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.43.



In related news, CEO John T. Stankey sold 4,024 shares of the 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 completion of the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Shares of NYSE T traded down $0.43 on Wednesday, reaching $37.05. 21,927,753 shares of the company traded hands, compared to its average volume of 30,731,311. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $38.75. The company has a 50 day moving average of $36.62 and a 200 day moving average of $33.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $270.72 billion, a PE ratio of 10.53, a P/E/G ratio of 2.36 and a beta of 0.63.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.89. The firm had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, research analysts expect that AT&T Inc. will post 3.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Wednesday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 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.

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

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