Manchester Capital Management LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 11.0% during the second quarter, Holdings Channel reports. The institutional investor owned 30,294 shares of the company’s stock after selling 3,752 shares during the period. Manchester Capital Management LLC’s holdings in AT&T were worth $1,309,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. TIAA CREF Investment Management LLC boosted its stake in AT&T by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 24,011,256 shares of the company’s stock valued at $940,521,000 after buying an additional 2,733,411 shares during the last quarter. Virginia Retirement System bought a new stake in AT&T during the first quarter valued at about $83,650,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in AT&T by 68.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,067,911 shares of the company’s stock valued at $198,510,000 after buying an additional 2,054,571 shares during the last quarter. BlackRock Fund Advisors boosted its stake in AT&T by 1.8% in the first quarter. BlackRock Fund Advisors now owns 79,579,666 shares of the company’s stock valued at $3,117,136,000 after buying an additional 1,417,502 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in AT&T during the first quarter valued at about $49,432,000. 53.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of AT&T Inc. (NYSE:T) traded up 0.23% during mid-day trading on Tuesday, hitting $39.10. 22,314,894 shares of the stock were exchanged. The company has a 50-day moving average price of $40.52 and a 200-day moving average price of $40.53. AT&T Inc. has a 12 month low of $32.22 and a 12 month high of $43.89. The stock has a market cap of $240.54 billion, a price-to-earnings ratio of 16.86 and a beta of 0.30.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. Equities analysts expect that AT&T Inc. will post $2.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.91%. AT&T’s dividend payout ratio (DPR) is 83.12%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. Robert W. Baird reiterated a “neutral” rating and set a $41.00 price objective on shares of AT&T in a research report on Monday, July 25th. S&P Equity Research set a $46.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Sunday, July 24th. Finally, Citigroup Inc. cut shares of AT&T from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $42.00 to $46.00 in a research report on Thursday, July 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. AT&T presently has an average rating of “Hold” and a consensus price target of $41.82.
In other news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the transaction, the chief executive officer now owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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