AT&T Inc. (NYSE:T) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of AT&T Inc. (NYSE:T) by 1.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,912,893 shares of the technology company’s stock after selling 140,372 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AT&T were worth $227,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of T. Apollon Wealth Management LLC lifted its holdings in shares of AT&T by 6.6% in the 2nd quarter. Apollon Wealth Management LLC now owns 31,517 shares of the technology company’s stock valued at $907,000 after buying an additional 1,963 shares during the period. Kowal Investment Group LLC increased its stake in shares of AT&T by 3.6% in the 2nd quarter. Kowal Investment Group LLC now owns 49,745 shares of the technology company’s stock valued at $1,432,000 after purchasing an additional 1,716 shares in the last quarter. Cypress Capital Management LLC increased its stake in shares of AT&T by 0.8% in the 2nd quarter. Cypress Capital Management LLC now owns 219,872 shares of the technology company’s stock valued at $6,328,000 after purchasing an additional 1,775 shares in the last quarter. Krane Funds Advisors LLC increased its stake in shares of AT&T by 39.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 23,808 shares of the technology company’s stock valued at $685,000 after purchasing an additional 6,739 shares in the last quarter. Finally, Round Hill Asset Management increased its stake in AT&T by 7.3% during the 2nd quarter. Round Hill Asset Management now owns 122,377 shares of the technology company’s stock worth $3,522,000 after buying an additional 8,290 shares in the last quarter. Institutional investors and hedge funds own 51.61% of the company’s stock.

Several research firms have commented on T. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, July 26th. Scotiabank raised AT&T from a “sector underperform” rating to a “sector perform” rating and increased their price target for the company from $28.00 to $31.00 in a report on Wednesday, June 16th. Redburn Partners initiated coverage on AT&T in a research note on Friday, June 25th. They set a “sell” rating and a $23.00 price objective on the stock. Tigress Financial reiterated a “buy” rating and set a $36.00 price target on shares of AT&T in a report on Friday, July 9th. Finally, Loop Capital began coverage on shares of AT&T in a research report on Monday, September 20th. They set a “hold” rating and a $30.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.10.

Shares of T stock opened at $27.13 on Monday. The firm has a 50 day moving average of $27.68 and a two-hundred day moving average of $29.13. The stock has a market capitalization of $193.71 billion, a PE ratio of -87.51, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.87. AT&T Inc. has a 52 week low of $26.35 and a 52 week high of $33.88.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.10. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The company had revenue of $44.05 billion for the quarter, compared to the consensus estimate of $42.39 billion. During the same quarter in the prior year, the business earned $0.83 EPS. AT&T’s revenue was up 7.6% on a year-over-year basis. Analysts expect that AT&T Inc. will post 3.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Monday, October 11th will be issued a $0.52 dividend. The ex-dividend date is Thursday, October 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.67%. AT&T’s payout ratio is 65.41%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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