AT&T Inc. $T Shares Sold by Keybank National Association OH

Keybank National Association OH cut its holdings in AT&T Inc. (NYSE:T) by 36.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 890,083 shares of the technology company’s stock after selling 506,082 shares during the period. Keybank National Association OH’s holdings in AT&T were worth $21,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sound Income Strategies LLC grew its holdings in AT&T by 19.8% in the third quarter. Sound Income Strategies LLC now owns 754,818 shares of the technology company’s stock worth $18,772,000 after purchasing an additional 124,997 shares during the period. B.A. Schrock Wealth Management Inc. bought a new stake in AT&T in the third quarter valued at $1,583,000. Orographic Financial Advisors LLC acquired a new position in shares of AT&T during the first quarter valued at about $3,449,000. Quintet Private Bank Europe S.A. raised its holdings in shares of AT&T by 44.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 2,451,253 shares of the technology company’s stock valued at $59,811,000 after purchasing an additional 750,364 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of AT&T by 34.5% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,075,110 shares of the technology company’s stock valued at $22,255,000 after purchasing an additional 275,985 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays cut their price objective on shares of AT&T from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 22nd. Citigroup decreased their target price on AT&T from $31.50 to $28.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. TD Cowen reaffirmed a “hold” rating and set a $33.00 price target on shares of AT&T in a research note on Thursday, October 22nd. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a report on Thursday, July 23rd. Finally, Moffett Nathanson cut their price target on AT&T from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 22nd. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

AT&T Stock Performance

NYSE T opened at $22.24 on Thursday. The company has a market cap of $149.80 billion, a P/E ratio of 12.02, a PEG ratio of 1.08 and a beta of 0.30. The company has a fifty day simple moving average of $23.72 and a 200 day simple moving average of $24.89. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.43.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The firm had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.69 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.40 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.0%. AT&T’s payout ratio is presently 60.00%.

Latest AT&T News

Here’s some of the latest news about T:

• Positive Sentiment: The company reportedly plans to maintain its $1.11-per-share dividend and repurchase about $10 billion of shares this year, which may appeal to income investors and support per-share results. Dividend and buyback article
• Neutral Sentiment: One valuation analysis argues AT&T may be about 34% below fair value, while noting that customer-service and network initiatives could affect future cash generation; the valuation estimate is not a company forecast. AT&T stock may be 34% below fair value
• Negative Sentiment: Commentary highlights AT&T’s heavy debt load, a concern that could constrain flexibility and make its dividend less attractive if financing costs remain elevated. Should dividend investors buy AT&T stock?

AT&T Profile

AT&T Inc. (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions. The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.