CX Institutional Reduces Holdings in AT&T Inc. (NYSE:T)

CX Institutional decreased its holdings in AT&T Inc. (NYSE:T) by 27.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,348 shares of the technology company’s stock after selling 882 shares during the quarter. CX Institutional’s holdings in AT&T were worth $89,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Grimes & Company Inc. lifted its holdings in AT&T by 0.9% during the second quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock valued at $1,132,000 after purchasing an additional 294 shares in the last quarter. Interactive Financial Advisors lifted its holdings in AT&T by 16.7% during the second quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after purchasing an additional 300 shares in the last quarter. Berkshire Money Management Inc. lifted its holdings in AT&T by 3.2% during the second quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after purchasing an additional 305 shares in the last quarter. Oxbow Advisors LLC lifted its holdings in AT&T by 0.4% during the second quarter. Oxbow Advisors LLC now owns 86,471 shares of the technology company’s stock valued at $2,898,000 after purchasing an additional 305 shares in the last quarter. Finally, Lenox Wealth Management Inc. lifted its holdings in AT&T by 6.0% during the second quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after purchasing an additional 308 shares in the last quarter. 53.02% of the stock is currently owned by institutional investors.

In related news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

Several equities analysts have weighed in on the stock. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. set a $39.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Cowen set a $40.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Bank of America reiterated a “buy” rating on shares of AT&T in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $38.43.

AT&T stock opened at $37.58 on Friday. The stock has a market cap of $274.60 billion, a P/E ratio of 10.68, a PEG ratio of 2.36 and a beta of 0.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $38.75. The firm’s 50 day moving average price is $36.72 and its 200-day moving average price is $33.57.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 3.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s dividend payout ratio is presently 57.95%.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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