State Street Corp Sells 6,793,879 Shares of AT&T Inc. (NYSE:T)
State Street Corp reduced its position in shares of AT&T Inc. (NYSE:T) by 2.6% during the first quarter, Holdings Channel reports. The firm owned 259,303,193 shares of the technology company’s stock after selling 6,793,879 shares during the period. AT&T comprises 1.0% of State Street Corp’s holdings, making the stock its 14th largest position. State Street Corp’s holdings in AT&T were worth $10,774,054,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fort Point Capital Partners LLC raised its position in AT&T by 9.3% in the first quarter. Fort Point Capital Partners LLC now owns 33,938 shares of the technology company’s stock valued at $1,410,000 after buying an additional 2,884 shares during the last quarter. NS Partners Ltd raised its position in AT&T by 3.1% in the first quarter. NS Partners Ltd now owns 20,554 shares of the technology company’s stock valued at $854,000 after buying an additional 625 shares during the last quarter. Keel Point LLC raised its position in AT&T by 7.7% in the first quarter. Keel Point LLC now owns 20,095 shares of the technology company’s stock valued at $835,000 after buying an additional 1,430 shares during the last quarter. MEMBERS Trust Co purchased a new position in AT&T during the first quarter valued at approximately $2,350,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in AT&T during the first quarter valued at approximately $25,127,000. 55.28% of the stock is owned by hedge funds and other institutional investors.
Shares of AT&T Inc. (NYSE T) traded down 0.24% during trading on Friday, reaching $38.10. 13,278,982 shares of the company’s stock were exchanged. AT&T Inc. has a 12-month low of $35.81 and a 12-month high of $43.32. The stock has a 50-day moving average price of $37.57 and a 200 day moving average price of $39.64. The company has a market capitalization of $233.93 billion, a P/E ratio of 17.90 and a beta of 0.47.
AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $39.84 billion for the quarter, compared to analyst estimates of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. AT&T’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Equities analysts expect that AT&T Inc. will post $2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Thursday, July 6th. AT&T’s dividend payout ratio is currently 92.45%.
T has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of AT&T in a research note on Wednesday, April 19th. ValuEngine lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $41.00 price objective on shares of AT&T in a research note on Saturday, April 29th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $42.00 price objective on shares of AT&T in a research note on Sunday, July 9th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. AT&T currently has a consensus rating of “Hold” and a consensus target price of $43.50.
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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