Standard Life Aberdeen plc cut its stake in shares of AT&T Inc. (NYSE:T) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,672,053 shares of the technology company’s stock after selling 473,251 shares during the quarter. Standard Life Aberdeen plc owned about 0.11% of AT&T worth $224,082,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of T. Bank of New York Mellon Corp increased its holdings in shares of AT&T by 21.2% during 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in AT&T by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock worth $2,650,940,000 after buying an additional 11,990,755 shares in the last quarter. Northern Trust Corp increased its holdings in AT&T by 13.7% in the 2nd quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock worth $2,695,135,000 after buying an additional 10,082,798 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in AT&T in the 2nd quarter worth about $321,448,000. Finally, Swiss National Bank increased its holdings in AT&T by 22.4% in the 2nd quarter. Swiss National Bank now owns 26,545,263 shares of the technology company’s stock worth $852,368,000 after buying an additional 4,853,805 shares in the last quarter. Hedge funds and other institutional investors own 63.47% of the company’s stock.
T stock opened at $30.67 on Friday. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $37.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $188.28 billion, a PE ratio of 8.71, a P/E/G ratio of 1.29 and a beta of 0.59.
AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.86. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The firm had revenue of $47.99 billion for the quarter, compared to analysts’ expectations of $48.50 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 3.6 earnings per share for the current fiscal year.
In other news, CEO John T. Stankey sold 3,748 shares of AT&T stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $29.84, for a total transaction of $111,840.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.
Several equities research analysts recently commented on T shares. Cowen lifted their price objective on AT&T from $34.00 to $36.00 in a report on Sunday, December 9th. Bank of America set a $37.00 price objective on AT&T and gave the stock a “buy” rating in a report on Monday, November 19th. Citigroup upgraded AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, December 11th. Barclays set a $32.00 price objective on AT&T and gave the stock a “hold” rating in a report on Friday, January 18th. Finally, Moffett Nathanson raised AT&T from a “sell” rating to a “neutral” rating and set a $28.00 target price on the stock in a research report on Monday, November 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $35.71.
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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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