Gyroscope Capital Management Group LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,098 shares of the technology company’s stock after selling 3,072 shares during the period. AT&T accounts for approximately 2.1% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 21st largest holding. Gyroscope Capital Management Group LLC’s holdings in AT&T were worth $4,735,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in T. Jaffetilchin Investment Partners LLC increased its stake in shares of AT&T by 10.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock valued at $37,000 after buying an additional 1,248 shares during the period. NWK Group Inc. acquired a new stake in shares of AT&T in the 2nd quarter valued at $65,000. JJJ Advisors Inc. grew its stake in shares of AT&T by 212.3% during the second quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,507 shares during the period. Provident Wealth Management LLC acquired a new stake in shares of AT&T during the third quarter worth $70,000. Finally, Litman Gregory Asset Management LLC grew its stake in shares of AT&T by 844.0% during the second quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,667 shares during the period. 52.29% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Stephen J. Luczo purchased 100,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were bought at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.

A number of brokerages recently commented on T. Morgan Stanley decreased their price objective on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Oppenheimer reaffirmed a “buy” rating and set a $38.00 price objective on shares of AT&T in a research note on Thursday, October 1st. KeyCorp cut AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Monday, October 5th. Bank of America reaffirmed a “buy” rating and set a $36.00 price objective on shares of AT&T in a research note on Friday, July 24th. Finally, Scotiabank cut AT&T from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the stock from $34.00 to $30.00 in a research note on Monday, August 31st. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. AT&T currently has an average rating of “Hold” and a consensus target price of $33.56.

Shares of AT&T stock opened at $27.33 on Friday. The firm has a market cap of $194.73 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. The stock’s 50-day moving average is $28.84 and its 200-day moving average is $29.74. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81.

AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $40.95 billion for the quarter, compared to analyst estimates of $40.87 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities analysts expect that AT&T Inc. will post 3.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.61%. AT&T’s dividend payout ratio (DPR) is 58.26%.

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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