Inverness Counsel LLC NY lowered its stake in AT&T Inc. (NYSE:T) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,089 shares of the technology company’s stock after selling 1,340 shares during the quarter. Inverness Counsel LLC NY’s holdings in AT&T were worth $871,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Taylor Wealth Management Partners increased its position in shares of AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after acquiring an additional 11 shares during the last quarter. Cedar Wealth Management LLC increased its position in shares of AT&T by 0.9% in the first quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock valued at $228,000 after acquiring an additional 50 shares during the last quarter. Headinvest LLC increased its position in shares of AT&T by 0.3% in the second quarter. Headinvest LLC now owns 28,069 shares of the technology company’s stock valued at $1,059,000 after acquiring an additional 74 shares during the last quarter. Moon Capital Management LLC increased its position in shares of AT&T by 0.3% in the second quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock valued at $824,000 after acquiring an additional 75 shares during the last quarter. Finally, Orca Investment Management LLC increased its position in shares of AT&T by 0.7% in the second quarter. Orca Investment Management LLC now owns 14,205 shares of the technology company’s stock valued at $536,000 after acquiring an additional 100 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of AT&T Inc. (NYSE:T) opened at 38.30 on Tuesday. The company has a 50 day moving average price of $37.84 and a 200 day moving average price of $38.48. AT&T Inc. has a 52 week low of $35.10 and a 52 week high of $43.03. The company has a market capitalization of $235.16 billion, a PE ratio of 18.00 and a beta of 0.49.

AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The company had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. AT&T’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. On average, equities research analysts expect that AT&T Inc. will post $2.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 5.12%. The ex-dividend date is Friday, October 6th. AT&T’s dividend payout ratio (DPR) is presently 92.45%.

A number of equities analysts have weighed in on the company. Vetr downgraded AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 price target on the stock. in a research report on Friday. Morgan Stanley boosted their price target on AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 27th. Robert W. Baird reissued an “outperform” rating and set a $43.00 price target on shares of AT&T in a research report on Thursday, September 21st. Macquarie reissued a “buy” rating and set a $43.00 price target on shares of AT&T in a research report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $48.00 price target on shares of AT&T in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.87.

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About AT&T

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

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