AT&T Inc. (NYSE:T) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC reduced its stake in AT&T Inc. (NYSE:TGet Rating) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 438,988 shares of the technology company’s stock after selling 27,309 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in AT&T were worth $6,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beacon Capital Management Inc. acquired a new position in AT&T in the second quarter valued at approximately $26,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AT&T during the second quarter valued at approximately $29,000. New Millennium Group LLC bought a new stake in shares of AT&T during the second quarter valued at approximately $34,000. Bay Harbor Wealth Management LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $36,000. Finally, Poplar Forest Capital LLC raised its holdings in shares of AT&T by 18.8% during the second quarter. Poplar Forest Capital LLC now owns 1,820,432 shares of the technology company’s stock valued at $38,000 after buying an additional 288,054 shares during the last quarter. 51.86% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T traded up $1.12 during trading on Wednesday, hitting $20.28. The company had a trading volume of 17,970,033 shares, compared to its average volume of 35,240,254. The company has a market cap of $144.54 billion, a P/E ratio of 7.53, a PEG ratio of 2.23 and a beta of 0.61. AT&T Inc. has a 52 week low of $14.46 and a 52 week high of $22.84. The business’s 50-day moving average is $18.92 and its 200 day moving average is $18.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.54 and a current ratio of 0.62.

AT&T (NYSE:TGet Rating) last posted its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. AT&T had a net margin of 14.44% and a return on equity of 13.24%. The firm had revenue of $31.30 billion for the quarter, compared to analysts’ expectations of $31.50 billion. During the same period in the previous year, the company posted $0.78 EPS. The company’s quarterly revenue was down 23.6% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.64 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.47%. The ex-dividend date is Monday, January 9th. AT&T’s payout ratio is 41.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James raised AT&T from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $26.00 to $24.00 in a report on Monday, October 24th. Truist Financial raised AT&T from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, October 21st. Barclays boosted their target price on AT&T from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, October 21st. Finally, Citigroup boosted their target price on AT&T from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

AT&T Company Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

See Also

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

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