Rockefeller Capital Management L.P. Boosts Stake in AT&T Inc. (T)

Rockefeller Capital Management L.P. lifted its holdings in AT&T Inc. (NYSE:T) by 149.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,294 shares of the technology company’s stock after buying an additional 77,558 shares during the period. Rockefeller Capital Management L.P.’s holdings in AT&T were worth $4,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Guardian Investment Management increased its position in AT&T by 8.4% during the second quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock worth $4,598,000 after purchasing an additional 11,054 shares during the last quarter. Ironsides Asset Advisors LLC increased its position in AT&T by 450.8% during the second quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock worth $1,735,000 after purchasing an additional 44,231 shares during the last quarter. Whittier Trust Co. increased its position in AT&T by 9.5% during the second quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock worth $14,859,000 after purchasing an additional 40,293 shares during the last quarter. BP PLC increased its position in AT&T by 30.5% during the second quarter. BP PLC now owns 914,826 shares of the technology company’s stock worth $29,375,000 after purchasing an additional 213,826 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its position in AT&T by 14.1% during the second quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock worth $1,622,000 after purchasing an additional 6,247 shares during the last quarter. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of T stock opened at $32.25 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $206.15 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 2.67 and a beta of 0.39. AT&T Inc. has a fifty-two week low of $30.13 and a fifty-two week high of $39.33.

AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $38.99 billion during the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. As a group, research analysts predict that AT&T Inc. will post 3.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Tuesday, October 9th. AT&T’s dividend payout ratio (DPR) is currently 65.57%.

Several equities research analysts recently issued reports on the stock. Raymond James cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 price objective for the company. in a research report on Friday, July 13th. Bank of America restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 21st. Barclays set a $33.00 price target on shares of AT&T and gave the company a “hold” rating in a research report on Wednesday. Deutsche Bank lifted their price target on shares of AT&T from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, September 24th. Finally, ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $37.82.

In other AT&T news, Director Piazza Samuel A. Jr. Di acquired 7,690 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was purchased at an average price of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the acquisition, the director now owns 31,405 shares of the company’s stock, valued at approximately $1,020,034.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew K. Rose acquired 65,500 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was acquired at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the acquisition, the director now directly owns 81,319 shares of the company’s stock, valued at approximately $2,481,042.69. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

About AT&T

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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

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