Flippin Bruce & Porter Inc. cut its holdings in AT&T Inc. (NYSE:T) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 359,074 shares of the technology company’s stock after selling 9,106 shares during the quarter. AT&T makes up about 2.4% of Flippin Bruce & Porter Inc.’s investment portfolio, making the stock its 7th largest position. Flippin Bruce & Porter Inc.’s holdings in AT&T were worth $13,587,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after purchasing an additional 6,744,699 shares in the last quarter. Northern Trust Corp raised its holdings in AT&T by 2.0% in the second quarter. Northern Trust Corp now owns 86,817,291 shares of the technology company’s stock worth $2,909,247,000 after purchasing an additional 1,729,145 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 68,529,809 shares of the technology company’s stock worth $2,296,433,000 after purchasing an additional 2,201,538 shares in the last quarter. Morgan Stanley raised its holdings in AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after purchasing an additional 5,931,167 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after purchasing an additional 43,525,113 shares in the last quarter. 52.94% of the stock is owned by institutional investors.
Shares of T traded down $0.04 during mid-day trading on Friday, hitting $39.38. 18,628,934 shares of the company traded hands, compared to its average volume of 30,604,307. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $39.58. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $287.75 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 2.47 and a beta of 0.64. The business has a 50 day moving average of $37.87 and a 200 day moving average of $34.45.
AT&T (NYSE:T) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The firm had revenue of $44.59 billion for the quarter, compared to the consensus estimate of $45.45 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.51 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.04 annualized dividend and a yield of 5.18%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group upped their price objective on shares of AT&T from $38.00 to $42.00 and gave the company a “buy” rating in a report on Monday. Sanford C. Bernstein began coverage on shares of AT&T in a report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price objective on the stock. SunTrust Banks upped their price objective on shares of AT&T to $36.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Finally, Raymond James restated a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of AT&T in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. AT&T presently has a consensus rating of “Hold” and a consensus price target of $38.90.
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.
Recommended Story: What is the Federal Reserve?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.