Allred Capital Management LLC cut its position in AT&T Inc. (NYSE:T) by 9.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 40,501 shares of the technology company’s stock after selling 4,059 shares during the period. Allred Capital Management LLC’s holdings in AT&T were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NWK Group Inc. acquired a new stake in shares of AT&T in the second quarter valued at $65,000. JJJ Advisors Inc. grew its stake in AT&T by 212.3% during the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,507 shares in the last quarter. Provident Wealth Management LLC acquired a new position in AT&T during the 3rd quarter worth $70,000. Litman Gregory Asset Management LLC grew its stake in AT&T by 844.0% during the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,667 shares in the last quarter. Finally, Alpha Windward LLC grew its stake in AT&T by 15.0% during the 2nd quarter. Alpha Windward LLC now owns 3,609 shares of the technology company’s stock worth $109,000 after purchasing an additional 472 shares in the last quarter. 52.29% of the stock is owned by institutional investors and hedge funds.

AT&T stock opened at $27.33 on Friday. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $194.73 billion, a P/E ratio of 16.77, a PEG ratio of 1.64 and a beta of 0.69. The stock has a 50-day simple moving average of $28.84 and a 200-day simple moving average of $29.74.

AT&T (NYSE:T) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The firm had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. As a group, analysts forecast that AT&T Inc. will post 3.21 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio is presently 58.26%.

T has been the subject of several analyst reports. Bank of America reissued a “buy” rating and set a $36.00 target price on shares of AT&T in a research note on Friday, July 24th. Scotiabank cut AT&T from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $34.00 to $30.00 in a research note on Monday, August 31st. Morgan Stanley lowered their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Barclays began coverage on AT&T in a report on Friday, October 2nd. They set an “overweight” rating for the company. Finally, Royal Bank of Canada lifted their price target on AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. AT&T has a consensus rating of “Hold” and an average price target of $33.56.

In related news, Director Stephen J. Luczo acquired 100,000 shares of AT&T stock in a transaction on Thursday, July 23rd. The stock was purchased at an average cost of $29.69 per share, with a total value of $2,969,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

About AT&T

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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