Sustainable Insight Capital Management LLC Lowers Stock Holdings in AT&T Inc. $T

Sustainable Insight Capital Management LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 27.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 242,429 shares of the technology company’s stock after selling 90,750 shares during the quarter. AT&T makes up 3.2% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Sustainable Insight Capital Management LLC’s holdings in AT&T were worth $7,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Savant Capital LLC increased its stake in shares of AT&T by 6.7% during the second quarter. Savant Capital LLC now owns 372,537 shares of the technology company’s stock worth $10,781,000 after purchasing an additional 23,451 shares during the period. OneAscent Wealth Management LLC grew its holdings in AT&T by 6.5% in the 2nd quarter. OneAscent Wealth Management LLC now owns 27,847 shares of the technology company’s stock valued at $806,000 after buying an additional 1,711 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. increased its position in AT&T by 3.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 16,488 shares of the technology company’s stock worth $477,000 after buying an additional 497 shares during the period. Soltis Investment Advisors LLC lifted its holdings in shares of AT&T by 18.6% during the second quarter. Soltis Investment Advisors LLC now owns 20,293 shares of the technology company’s stock worth $587,000 after buying an additional 3,186 shares in the last quarter. Finally, Washington Trust Bank acquired a new stake in shares of AT&T during the second quarter worth $205,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on T shares. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Barclays dropped their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

AT&T Stock Up 0.7%

Shares of T opened at $24.74 on Friday. The firm has a 50 day simple moving average of $27.23 and a two-hundred day simple moving average of $27.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The company has a market cap of $175.36 billion, a P/E ratio of 8.03, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio is 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.