Johnson Financial Group Inc. Lowers Stake in AT&T Inc. (T)

Johnson Financial Group Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 155,104 shares of the technology company’s stock after selling 12,901 shares during the period. Johnson Financial Group Inc.’s holdings in AT&T were worth $4,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HC Financial Advisors Inc. bought a new stake in shares of AT&T during the 4th quarter worth $1,136,000. Centaurus Financial Inc. raised its stake in shares of AT&T by 29.3% during the 1st quarter. Centaurus Financial Inc. now owns 21,823 shares of the technology company’s stock worth $778,000 after purchasing an additional 4,948 shares during the period. Engineers Gate Manager LP bought a new stake in shares of AT&T during the 1st quarter worth $1,102,000. Montag A & Associates Inc. raised its stake in shares of AT&T by 26.4% during the 1st quarter. Montag A & Associates Inc. now owns 27,111 shares of the technology company’s stock worth $967,000 after purchasing an additional 5,656 shares during the period. Finally, Synovus Financial Corp raised its stake in shares of AT&T by 3.4% during the 1st quarter. Synovus Financial Corp now owns 1,072,813 shares of the technology company’s stock worth $38,259,000 after purchasing an additional 35,456 shares during the period. 64.81% of the stock is owned by institutional investors.

T stock opened at $30.69 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $190.06 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 2.47 and a beta of 0.42. AT&T Inc. has a twelve month low of $28.85 and a twelve month high of $39.33.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). The company had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. Sell-side analysts expect that AT&T Inc. will post 3.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Tuesday, October 9th. AT&T’s payout ratio is presently 65.57%.

A number of research firms have recently commented on T. Raymond James cut AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price on the stock. in a research note on Friday, July 13th. Bank of America set a $37.00 price objective on AT&T and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Barclays set a $33.00 price objective on AT&T and gave the company a “hold” rating in a research note on Wednesday, October 10th. Tigress Financial upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Monday, October 22nd. Finally, Deutsche Bank boosted their price objective on AT&T from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 24th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.86.

In related news, Director Michael B. Mccallister bought 4,000 shares of AT&T stock in a transaction on Friday, October 26th. The stock was acquired at an average price of $29.14 per share, with a total value of $116,560.00. Following the acquisition, the director now directly owns 7,361 shares of the company’s stock, valued at $214,499.54. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

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AT&T Profile

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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