Newman Dignan & Sheerar Inc. Lowers Stock Position in AT&T Inc. (NYSE:T)

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Newman Dignan & Sheerar Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,408 shares of the technology company’s stock after selling 1,465 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in AT&T were worth $885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Horan Securities Inc. lifted its position in AT&T by 439.2% during the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after acquiring an additional 830 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares in the last quarter. Smart Portfolios LLC increased its stake in AT&T by 44.8% during the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. Centaurus Financial Inc. increased its stake in AT&T by 24.4% during the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Interactive Financial Advisors acquired a new position in AT&T during the 1st quarter valued at approximately $56,000. 53.05% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on T. Cowen upped their price target on shares of AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley restated a “buy” rating and set a $37.00 price target on shares of AT&T in a research note on Thursday, August 1st. Raymond James upped their price target on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Desjardins restated an “average” rating and set a $55.50 price target on shares of AT&T in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. AT&T currently has a consensus rating of “Buy” and an average price target of $36.72.

NYSE:T opened at $34.54 on Friday. The firm has a market capitalization of $254.72 billion, a P/E ratio of 9.81, a PEG ratio of 2.18 and a beta of 0.62. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $34.96. The company’s fifty day moving average price is $33.77 and its 200-day moving average price is $31.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.89. The firm had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities analysts anticipate that AT&T Inc. will post 3.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.91%. AT&T’s payout ratio is currently 57.95%.

In other news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

AT&T Profile

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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