Anchor Capital Advisors LLC Reduces Position in AT&T Inc. (T)

Anchor Capital Advisors LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 89.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,808 shares of the technology company’s stock after selling 699,074 shares during the quarter. Anchor Capital Advisors LLC’s holdings in AT&T were worth $2,563,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CKW Financial Group raised its stake in shares of AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after purchasing an additional 2,159 shares during the last quarter. Braun Bostich & Associates Inc. purchased a new stake in shares of AT&T in the first quarter worth approximately $137,000. Elmwood Wealth Management Inc. purchased a new stake in shares of AT&T in the first quarter worth approximately $178,000. Cerebellum GP LLC purchased a new stake in shares of AT&T in the second quarter worth approximately $178,000. Finally, Bristol John W & Co. Inc. NY purchased a new stake in shares of AT&T in the first quarter worth approximately $201,000. 64.81% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Michael B. Mccallister purchased 4,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was purchased at an average cost of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now directly owns 7,361 shares of the company’s stock, valued at $214,499.54. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

Shares of NYSE T opened at $30.69 on Friday. AT&T Inc. has a 1-year low of $28.85 and a 1-year high of $39.33. The firm has a market cap of $190.92 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 2.48 and a beta of 0.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the 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 firm had revenue of $45.74 billion for the quarter, compared to the consensus estimate of $45.73 billion. During the same period last year, the company posted $0.74 earnings per share. AT&T’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 3.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Tuesday, October 9th. AT&T’s payout ratio is currently 65.57%.

T has been the subject of several recent analyst reports. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and upped their target price for the company from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Macquarie reaffirmed a “buy” rating and issued a $35.00 target price on shares of AT&T in a report on Wednesday, September 12th. Bank of America reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, July 24th. Finally, Tigress Financial raised AT&T from a “neutral” rating to a “buy” rating in a report on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $36.59.

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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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