Rothschild Asset Management Inc. Decreases Position in AT&T Inc. (T)

Rothschild Asset Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,735,507 shares of the technology company’s stock after selling 271,655 shares during the quarter. AT&T comprises 0.9% of Rothschild Asset Management Inc.’s portfolio, making the stock its 6th biggest holding. Rothschild Asset Management Inc.’s holdings in AT&T were worth $87,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. CKW Financial Group grew its holdings in AT&T by 105.0% during the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after buying an additional 2,159 shares in the last quarter. Braun Bostich & Associates Inc. purchased a new position in AT&T during the 1st quarter valued at approximately $137,000. Elmwood Wealth Management Inc. purchased a new position in AT&T during the 1st quarter valued at approximately $178,000. Cerebellum GP LLC purchased a new position in AT&T during the 2nd quarter valued at approximately $178,000. Finally, Bristol John W & Co. Inc. NY purchased a new position in AT&T during the 1st quarter valued at approximately $201,000. 64.81% of the stock is currently owned by institutional investors.

Shares of T stock opened at $30.69 on Friday. AT&T Inc. has a 52-week low of $28.85 and a 52-week high of $39.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $190.06 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42.

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

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

A number of equities analysts have recently commented on T shares. Raymond James cut AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price for the company. in a report on Friday, July 13th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, July 17th. Scotiabank set a $33.00 target price on AT&T and gave the stock a “hold” rating in a report on Monday, July 23rd. Bank of America upgraded AT&T from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, July 30th. They noted that the move was a valuation call. Finally, Wells Fargo & Co cut AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 target price for the company. in a report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $37.86.

In other AT&T news, Director Michael B. Mccallister purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $29.14 per share, with a total value of $116,560.00. Following the purchase, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

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AT&T Company 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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