Cornerstone Capital Management Holdings LLC. reduced its position in shares of AT&T Inc. (NYSE:T) by 13.3% in the third quarter, HoldingsChannel.com reports. The firm owned 2,127,191 shares of the technology company’s stock after selling 326,533 shares during the quarter. AT&T makes up 0.7% of Cornerstone Capital Management Holdings LLC.’s investment portfolio, making the stock its 23rd largest position. Cornerstone Capital Management Holdings LLC.’s holdings in AT&T were worth $83,321,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in T. New Capital Management LP grew its stake in shares of AT&T by 130.9% during the 3rd quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after acquiring an additional 1,500 shares during the period. Financial Engines Advisors L.L.C. bought a new position in shares of AT&T during the 3rd quarter valued at approximately $104,000. Macroview Investment Management LLC grew its stake in shares of AT&T by 144.3% during the 3rd quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,595 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in shares of AT&T during the 2nd quarter valued at approximately $134,000. Finally, CKW Financial Group grew its stake in shares of AT&T by 83.9% during the 2nd quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after acquiring an additional 1,724 shares during the period. Institutional investors and hedge funds own 55.14% of the company’s stock.
In related news, EVP John T. Stankey sold 2,307 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $39.21, for a total transaction of $90,457.47. Following the sale, the executive vice president now owns 51,672 shares in the company, valued at approximately $2,026,059.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Donovan purchased 27,997 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $35.68 per share, for a total transaction of $998,932.96. Following the acquisition, the chief executive officer now directly owns 179,834 shares in the company, valued at approximately $6,416,477.12. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.
Shares of AT&T Inc. (NYSE:T) opened at $36.72 on Monday. The stock has a market capitalization of $225,420.00, a P/E ratio of 24.64, a PEG ratio of 2.54 and a beta of 0.37. AT&T Inc. has a twelve month low of $32.55 and a twelve month high of $42.70. The company has a current ratio of 0.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.89.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.13. The business had revenue of $41.68 billion for the quarter, compared to analysts’ expectations of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. equities research analysts predict that AT&T Inc. will post 3.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.45%. This is a boost from AT&T’s previous quarterly dividend of $0.49. The ex-dividend date was Tuesday, January 9th. AT&T’s dividend payout ratio is 134.23%.
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AT&T Company Profile
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.
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