Monument Capital Management Sells 3,436 Shares of AT&T Inc. (NYSE:T)

Monument Capital Management cut its holdings in AT&T Inc. (NYSE:T) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,184 shares of the technology company’s stock after selling 3,436 shares during the period. Monument Capital Management’s holdings in AT&T were worth $2,429,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Aldebaran Financial Inc. grew its holdings in shares of AT&T by 17.1% in the third quarter. Aldebaran Financial Inc. now owns 99,800 shares of the technology company’s stock valued at $3,734,000 after acquiring an additional 14,556 shares in the last quarter. Centre Asset Management LLC grew its holdings in shares of AT&T by 28.7% in the third quarter. Centre Asset Management LLC now owns 410,962 shares of the technology company’s stock valued at $15,551,000 after acquiring an additional 91,542 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of AT&T by 3.8% in the third quarter. Boston Trust Walden Corp now owns 57,882 shares of the technology company’s stock valued at $2,190,000 after acquiring an additional 2,143 shares in the last quarter. Newman Dignan & Sheerar Inc. grew its holdings in shares of AT&T by 24.8% in the third quarter. Newman Dignan & Sheerar Inc. now owns 32,958 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 6,550 shares in the last quarter. Finally, Main Street Research LLC grew its holdings in shares of AT&T by 1,764.0% in the third quarter. Main Street Research LLC now owns 403,026 shares of the technology company’s stock valued at $15,251,000 after acquiring an additional 381,405 shares in the last quarter. 53.06% of the stock is owned by institutional investors.

Several equities analysts have weighed in on T shares. JPMorgan Chase & Co. set a $39.00 price objective on AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. Raymond James reissued an “outperform” rating and set a $40.00 price objective (up from $35.00) on shares of AT&T in a report on Monday, October 7th. Desjardins reissued an “average” rating and set a $55.50 price objective on shares of AT&T in a report on Tuesday, August 6th. Cowen set a $40.00 price objective on AT&T and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Bank of America reissued a “buy” rating on shares of AT&T in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. AT&T currently has an average rating of “Buy” and a consensus price target of $38.28.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Shares of NYSE:T traded down $0.12 during trading on Tuesday, hitting $38.11. 5,274,144 shares of the company were exchanged, compared to its average volume of 24,876,530. The company has a market cap of $279.35 billion, a PE ratio of 10.83, a P/E/G ratio of 2.43 and a beta of 0.63. The stock has a 50 day moving average of $37.31 and a 200 day moving average of $33.90. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 3.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.51 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.35%. AT&T’s dividend payout ratio is currently 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.

Further Reading: S&P 500 Index

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

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