Waters Parkerson & CO. LLC Trims Stake in AT&T Inc. (T)

Waters Parkerson & CO. LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 368,441 shares of the technology company’s stock after selling 6,957 shares during the period. Waters Parkerson & CO. LLC’s holdings in AT&T were worth $11,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in AT&T by 21.2% in the second quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock valued at $2,335,182,000 after acquiring an additional 12,709,982 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in AT&T by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock valued at $2,650,940,000 after acquiring an additional 11,990,755 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in AT&T in the second quarter valued at approximately $321,448,000. Schwab Charles Investment Management Inc. boosted its holdings in AT&T by 21.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,207,723 shares of the technology company’s stock valued at $969,970,000 after acquiring an additional 5,257,713 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in AT&T by 26.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 23,675,124 shares of the technology company’s stock valued at $760,208,000 after acquiring an additional 4,930,318 shares during the last quarter. Institutional investors own 63.61% of the company’s stock.

Shares of T opened at $30.14 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $187.42 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.44.

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 Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The business had revenue of $45.74 billion during the quarter, compared to analyst estimates of $45.73 billion. During the same period last year, the firm posted $0.74 earnings per share. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 3.51 earnings per share for the current year.

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

Several brokerages recently commented on T. Cowen upgraded AT&T from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $36.00 in a report on Monday, December 3rd. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Wells Fargo & Co cut AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 target price on the stock. in a report on Wednesday, August 22nd. Finally, Bank of America set a $37.00 target price on AT&T and gave the company a “buy” rating in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $36.42.

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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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