S&CO Inc. Reduces Position in AT&T Inc. (T)

S&CO Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 236,632 shares of the technology company’s stock after selling 931 shares during the period. AT&T accounts for about 1.2% of S&CO Inc.’s portfolio, making the stock its 28th largest position. S&CO Inc.’s holdings in AT&T were worth $8,928,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Holderness Investments Co. raised its holdings in AT&T by 62.9% during the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock worth $4,008,000 after buying an additional 37,234 shares during the last quarter. Doyle Wealth Management raised its holdings in AT&T by 4.3% during the second quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock worth $1,417,000 after buying an additional 1,559 shares during the last quarter. Telos Capital Management Inc. raised its holdings in AT&T by 4.8% during the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after buying an additional 3,197 shares during the last quarter. Altfest L J & Co. Inc. raised its holdings in AT&T by 42.1% during the second quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock worth $1,721,000 after buying an additional 13,510 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in AT&T by 0.4% during the first quarter. Shell Asset Management Co. now owns 1,245,965 shares of the technology company’s stock worth $51,770,000 after buying an additional 5,354 shares during the last quarter. Institutional investors own 55.03% of the company’s stock.

AT&T Inc. (T) opened at 34.86 on Wednesday. AT&T Inc. has a 12 month low of $34.81 and a 12 month high of $43.03. The company has a market cap of $214.04 billion, a price-to-earnings ratio of 16.38 and a beta of 0.49. The firm’s 50-day moving average is $37.35 and its 200-day moving average is $38.06.

AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $39.67 billion for the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, analysts anticipate that AT&T Inc. will post $2.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.62%. AT&T’s dividend payout ratio (DPR) is presently 92.45%.

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Several analysts have recently issued reports on the stock. Moffett Nathanson reiterated a “neutral” rating on shares of AT&T in a research note on Monday, October 16th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $40.58 target price for the company in a research note on Monday, October 16th. KeyCorp reiterated a “hold” rating on shares of AT&T in a research note on Wednesday, October 11th. Zacks Investment Research lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, Morgan Stanley upped their target price on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.03.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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

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