AT&T Inc. (NYSE:T) Holdings Decreased by Tobam

by · The Cerbat Gem

Tobam decreased its holdings in shares of AT&T Inc. (NYSE:T – Free Report) by 28.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 716,919 shares of the technology company’s stock after selling 282,135 shares during the period. AT&T makes up approximately 2.9% of Tobam’s investment portfolio, making the stock its largest holding. Tobam’s holdings in AT&T were worth $15,772,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Davidson Kempner Capital Management LP acquired a new position in AT&T in the second quarter valued at approximately $23,888,000. Mackenzie Financial Corp lifted its holdings in AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares during the period. Talbot Financial LLC acquired a new position in AT&T in the third quarter valued at approximately $7,438,000. DRW Securities LLC lifted its holdings in AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T traded down $0.35 on Thursday, reaching $21.30. The stock had a trading volume of 16,205,782 shares, compared to its average volume of 35,686,063. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 12-month low of $14.23 and a 12-month high of $22.34. The business’s 50-day moving average price is $20.64 and its 200 day moving average price is $18.77. The stock has a market cap of $152.72 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T – Get Free Report) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on T. Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

View Our Latest Report on AT&T

AT&T Company Profile

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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