AT&T Inc. (T) Shares Sold by WASHINGTON TRUST Co
WASHINGTON TRUST Co trimmed its holdings in AT&T Inc. (NYSE:T) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 456,273 shares of the technology company’s stock after selling 2,527 shares during the quarter. WASHINGTON TRUST Co’s holdings in AT&T were worth $17,872,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in AT&T during the 2nd quarter worth about $314,000. New Capital Management LP raised its holdings in AT&T by 130.9% during the 3rd quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock worth $104,000 after purchasing an additional 1,500 shares during the last quarter. Macroview Investment Management LLC raised its holdings in AT&T by 144.3% during the 3rd quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,595 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in AT&T during the 2nd quarter worth about $134,000. Finally, CKW Financial Group raised its holdings in AT&T by 83.9% during the 2nd quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock worth $144,000 after purchasing an additional 1,724 shares during the last quarter. 55.76% of the stock is owned by institutional investors and hedge funds.
In other news, Director Matthew K. Rose purchased 29,600 shares of AT&T stock in a transaction on Wednesday, October 25th. The stock was purchased at an average price of $33.75 per share, with a total value of $999,000.00. Following the transaction, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.
AT&T Inc. (T) opened at $36.90 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. AT&T Inc. has a 12-month low of $32.55 and a 12-month high of $42.70. The stock has a market capitalization of $226,530.00, a P/E ratio of 17.74, a P/E/G ratio of 3.14 and a beta of 0.44.
AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. AT&T’s revenue for the quarter was down 3.0% compared to the same quarter last year. research analysts anticipate that AT&T Inc. will post 2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 9th. This is a positive change from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 5.42%. AT&T’s payout ratio is currently 96.15%.
T has been the subject of several analyst reports. Oppenheimer restated a “hold” rating on shares of AT&T in a research report on Wednesday, October 25th. Citigroup boosted their target price on AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. KeyCorp restated a “hold” rating on shares of AT&T in a research report on Wednesday, October 11th. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Deutsche Bank decreased their target price on AT&T from $41.00 to $38.00 and set a “hold” rating for the company in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.59.
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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