AT&T Inc. (T) Holdings Cut by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 83.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 18,220 shares of the technology company’s stock after selling 94,933 shares during the period. Cubist Systematic Strategies LLC’s holdings in AT&T were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Earnest Partners LLC acquired a new position in AT&T during the 4th quarter worth approximately $113,000. Elmwood Wealth Management Inc. acquired a new position in AT&T during the 1st quarter worth approximately $178,000. Taylor Hoffman Wealth Management acquired a new position in AT&T during the 4th quarter worth approximately $189,000. Bristol John W & Co. Inc. NY acquired a new position in AT&T during the 1st quarter worth approximately $201,000. Finally, Kendall Capital Management acquired a new position in AT&T during the 4th quarter worth approximately $203,000. Institutional investors own 56.08% of the company’s stock.

In related news, Director Matthew K. Rose bought 65,500 shares of AT&T stock in a transaction that occurred on Thursday, July 26th. The shares were purchased at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the purchase, the director now owns 81,319 shares in the company, valued at $2,481,042.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of AT&T stock in a transaction on Wednesday, August 8th. The shares were acquired at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the purchase, the director now owns 31,405 shares in the company, valued at $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Several brokerages have recently commented on T. SunTrust Banks decreased their price target on AT&T to $35.00 and set a “hold” rating on the stock in a research note on Thursday, May 3rd. Moffett Nathanson lowered AT&T from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $35.00 to $28.00 in a research note on Wednesday, June 13th. Morgan Stanley reissued an “overweight” rating and set a $37.00 price target on shares of AT&T in a research note on Wednesday, June 27th. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $38.21.

T stock opened at $33.09 on Friday. AT&T Inc. has a 1 year low of $30.13 and a 1 year high of $39.80. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $198.04 billion, a P/E ratio of 10.85, a P/E/G ratio of 2.67 and a beta of 0.43.

AT&T (NYSE:T) last posted its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The firm had revenue of $38.99 billion for the quarter, compared to analyst estimates of $38.45 billion. During the same quarter in the prior year, the company earned $0.79 EPS. AT&T’s revenue was down 2.1% on a year-over-year basis. analysts expect that AT&T Inc. will post 3.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date was Monday, July 9th. AT&T’s payout ratio is currently 65.57%.

AT&T 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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