Stewart & Patten Co. LLC Reduces Position in AT&T Inc. (T)
Stewart & Patten Co. LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 486,180 shares of the technology company’s stock after selling 18,055 shares during the period. AT&T accounts for about 3.5% of Stewart & Patten Co. LLC’s portfolio, making the stock its 11th largest position. Stewart & Patten Co. LLC’s holdings in AT&T were worth $19,043,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently 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 valued at $314,000. Almanack Investment Partners LLC. bought a new stake in AT&T during the 1st quarter valued at $109,000. New Capital Management LP increased its stake 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 valued at $104,000 after purchasing an additional 1,500 shares in the last quarter. Sterling Investment Advisors Ltd. increased its stake in AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after purchasing an additional 2,024 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new stake in AT&T during the 2nd quarter valued at $134,000. Institutional investors own 55.75% of the company’s stock.
Several analysts have recently issued reports on the stock. Vetr lowered shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 target price for the company. in a research note on Friday, October 6th. Morgan Stanley upped their target price on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th. ValuEngine lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. KeyCorp upped their target price on shares of AT&T from $35.00 to $38.00 and gave the stock a “sector weight” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.58.
In related news, Director Matthew K. Rose purchased 29,600 shares of AT&T stock in a transaction that occurred on Wednesday, October 25th. The stock was bought at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the transaction, the director now owns 3,100 shares in the company, valued at $104,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.
AT&T Inc. (NYSE T) opened at $38.14 on Friday. The firm has a market cap of $234,140.00, a PE ratio of 18.34, a P/E/G ratio of 3.10 and a beta of 0.44. The company has a current ratio of 1.60, a quick ratio of 1.60 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 $42.70.
AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The company had revenue of $39.67 billion for the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. AT&T’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. equities analysts forecast that AT&T Inc. will post 2.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.00 annualized dividend and a yield of 5.24%. This is a positive change from AT&T’s previous quarterly dividend of $0.49. AT&T’s dividend payout ratio is presently 94.23%.
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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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