BTC Capital Management Inc. Sells 4,840 Shares of AT&T Inc. (T)
BTC Capital Management Inc. trimmed its position in AT&T Inc. (NYSE:T) by 42.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,464 shares of the technology company’s stock after selling 4,840 shares during the quarter. BTC Capital Management Inc.’s holdings in AT&T were worth $244,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. APG Asset Management N.V. raised its stake in AT&T by 7.1% during the second quarter. APG Asset Management N.V. now owns 16,917,935 shares of the technology company’s stock worth $638,314,000 after acquiring an additional 1,117,300 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in AT&T during the first quarter worth $42,198,000. Schwab Charles Investment Management Inc. raised its stake in AT&T by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 23,368,641 shares of the technology company’s stock worth $881,699,000 after acquiring an additional 1,011,014 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in AT&T by 3,465.2% during the second quarter. Harbour Capital Advisors LLC now owns 883,674 shares of the technology company’s stock worth $23,421,000 after acquiring an additional 858,888 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in AT&T by 511.7% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,003,922 shares of the technology company’s stock worth $37,878,000 after acquiring an additional 839,792 shares in the last quarter. Institutional investors and hedge funds own 55.04% of the company’s stock.
In other AT&T news, Director Matthew K. Rose purchased 29,600 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the transaction, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) opened at $34.22 on Friday. The company has a market capitalization of $208,726.00, a PE ratio of 11.60, a PEG ratio of 2.74 and a beta of 0.42. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 1.23. AT&T Inc. has a 1 year low of $32.55 and a 1 year high of $43.03.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion for the quarter, compared to analyst estimates of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. research analysts forecast that AT&T Inc. will post 2.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend was Friday, October 6th. AT&T’s dividend payout ratio is currently 94.69%.
Several research firms have issued reports on T. Macquarie reiterated a “buy” rating and set a $43.00 price objective on shares of AT&T in a research note on Friday, September 1st. Vetr upgraded AT&T from a “buy” rating to a “strong-buy” rating and set a $44.24 price objective for the company in a research note on Thursday, September 28th. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. KeyCorp restated a “hold” rating on shares of AT&T in a report on Wednesday, October 11th. Finally, Robert W. Baird decreased their target price on AT&T from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $43.48.
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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