Stewart & Patten Co. LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 504,235 shares of the technology company’s stock after selling 6,948 shares during the period. AT&T accounts for 3.5% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 10th biggest holding. Stewart & Patten Co. LLC’s holdings in AT&T were worth $19,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in T. Taylor Wealth Management Partners raised its position in shares of AT&T by 0.4% during the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the last quarter. Cedar Wealth Management LLC raised its position in shares of AT&T by 0.9% during the first quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock valued at $228,000 after buying an additional 50 shares during the last quarter. Stratford Consulting LLC raised its position in shares of AT&T by 0.9% during the second quarter. Stratford Consulting LLC now owns 7,277 shares of the technology company’s stock valued at $275,000 after buying an additional 68 shares during the last quarter. Headinvest LLC raised its position in shares of AT&T by 0.3% during the second quarter. Headinvest LLC now owns 28,069 shares of the technology company’s stock valued at $1,059,000 after buying an additional 74 shares during the last quarter. Finally, Moon Capital Management LLC raised its position in shares of AT&T by 0.3% during the second quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock valued at $824,000 after buying an additional 75 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Shares of AT&T Inc. (NYSE:T) opened at 35.54 on Friday. AT&T Inc. has a 52 week low of $35.10 and a 52 week high of $43.03. The firm’s 50-day moving average is $37.49 and its 200 day moving average is $38.19. The company has a market capitalization of $218.22 billion, a PE ratio of 16.70 and a beta of 0.49.

AT&T (NYSE:T) last issued its earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. On average, analysts anticipate that AT&T Inc. will post $2.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Friday, October 6th. AT&T’s payout ratio is presently 92.45%.

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A number of research analysts have recently commented on the stock. Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price objective for the company in a research report on Wednesday, August 16th. Cowen and Company reaffirmed a “market perform” rating and set a $41.00 price objective (down previously from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of AT&T in a research report on Thursday, August 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $43.00 price objective on shares of AT&T in a research report on Thursday, September 21st. Finally, BidaskClub raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.57.

AT&T 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.

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

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