Sustainable Insight Capital Management LLC Trims Stock Position in AT&T Inc. $T

Sustainable Insight Capital Management LLC reduced its holdings in AT&T Inc. (NYSE:T) by 27.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 242,429 shares of the technology company’s stock after selling 90,750 shares during the quarter. AT&T accounts for about 3.2% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Sustainable Insight Capital Management LLC’s holdings in AT&T were worth $7,016,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares during the period. Rehmann Capital Advisory Group increased its holdings in AT&T by 5.8% during the 1st quarter. Rehmann Capital Advisory Group now owns 51,549 shares of the technology company’s stock worth $1,458,000 after purchasing an additional 2,823 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of AT&T by 11.6% in the 1st quarter. Leavell Investment Management Inc. now owns 56,467 shares of the technology company’s stock valued at $1,597,000 after purchasing an additional 5,887 shares during the period. Forza Wealth Management LLC lifted its holdings in shares of AT&T by 1.7% in the first quarter. Forza Wealth Management LLC now owns 32,744 shares of the technology company’s stock valued at $926,000 after purchasing an additional 550 shares in the last quarter. Finally, CFO4Life Group LLC lifted its holdings in shares of AT&T by 11.9% in the first quarter. CFO4Life Group LLC now owns 34,638 shares of the technology company’s stock valued at $980,000 after purchasing an additional 3,691 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $24.74 on Friday. The company has a market cap of $175.36 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The firm has a 50-day moving average of $27.23 and a 200-day moving average of $27.63. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same period last year, the business posted $0.60 EPS. AT&T’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analyst Ratings Changes

A number of research firms recently issued reports on T. JPMorgan Chase & Co. increased their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. UBS Group reiterated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.