Newport Trust Co Decreases Stake in AT&T Inc. (NYSE:T)

Newport Trust Co cut its stake in shares of AT&T Inc. (NYSE:T) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,125,666 shares of the technology company’s stock after selling 3,730,147 shares during the period. AT&T accounts for approximately 19.4% of Newport Trust Co’s portfolio, making the stock its 2nd largest holding. Newport Trust Co owned approximately 2.64% of AT&T worth $7,307,875,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of T. Centaurus Financial Inc. boosted its stake in AT&T by 24.4% in the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after buying an additional 333 shares in the last quarter. Bath Savings Trust Co boosted its stake in AT&T by 3.1% in the second quarter. Bath Savings Trust Co now owns 78,175 shares of the technology company’s stock worth $2,620,000 after buying an additional 2,334 shares in the last quarter. First Financial Bank Trust Division boosted its stake in AT&T by 3.6% in the second quarter. First Financial Bank Trust Division now owns 195,895 shares of the technology company’s stock worth $6,564,000 after buying an additional 6,793 shares in the last quarter. Park National Corp OH boosted its stake in AT&T by 33.4% in the second quarter. Park National Corp OH now owns 639,378 shares of the technology company’s stock worth $21,426,000 after buying an additional 160,252 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in AT&T by 3.6% in the second quarter. Private Trust Co. NA now owns 124,260 shares of the technology company’s stock worth $4,163,000 after buying an additional 4,297 shares in the last quarter. Institutional investors own 52.94% of the company’s stock.

Several analysts have issued reports on T shares. Cowen set a $40.00 target price on AT&T and gave the stock a “buy” rating in a research note on Friday, September 6th. Bank of America reaffirmed a “buy” rating on shares of AT&T in a research note on Monday, September 9th. Raymond James reaffirmed a “buy” rating and issued a $45.00 target price (up previously from $40.00) on shares of AT&T in a research note on Tuesday, October 29th. Morgan Stanley set a $37.00 target price on AT&T and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Sanford C. Bernstein started coverage on AT&T in a research note on Tuesday, October 15th. They issued a “market perform” rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.90.

Shares of NYSE:T traded down $0.04 during trading on Friday, reaching $39.38. 18,628,934 shares of the company traded hands, compared to its average volume of 30,604,307. The firm has a market capitalization of $287.75 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.47 and a beta of 0.64. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $39.58. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The business’s fifty day moving average is $37.87 and its 200-day moving average is $34.45.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The firm had revenue of $44.59 billion during the quarter, compared to analyst estimates of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date was Wednesday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

AT&T Company Profile

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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