Sage Rhino Capital LLC Sells 763 Shares of AT&T Inc. (NYSE:T)

Sage Rhino Capital LLC cut its position in AT&T Inc. (NYSE:T) by 7.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,204 shares of the technology company’s stock after selling 763 shares during the period. Sage Rhino Capital LLC’s holdings in AT&T were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of AT&T by 1.5% in the first quarter. Geode Capital Management LLC now owns 111,210,654 shares of the technology company’s stock worth $3,235,792,000 after purchasing an additional 1,669,793 shares during the period. Legal & General Group Plc raised its stake in AT&T by 2.9% during the first quarter. Legal & General Group Plc now owns 47,477,604 shares of the technology company’s stock valued at $1,385,953,000 after purchasing an additional 1,345,096 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in AT&T by 7.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,960,127 shares of the technology company’s stock valued at $886,887,000 after purchasing an additional 2,046,164 shares in the last quarter. Swiss National Bank raised its stake in AT&T by 21.9% during the first quarter. Swiss National Bank now owns 30,672,737 shares of the technology company’s stock valued at $894,110,000 after purchasing an additional 5,511,700 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in AT&T by 3.8% during the first quarter. Parametric Portfolio Associates LLC now owns 25,895,174 shares of the technology company’s stock valued at $754,844,000 after purchasing an additional 943,196 shares in the last quarter. 53.74% of the stock is owned by institutional investors and hedge funds.

In other news, Director Stephen J. Luczo purchased 100,000 shares of the stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of AT&T from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. ValuEngine downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Royal Bank of Canada reduced their target price on shares of AT&T from $38.00 to $32.00 in a research note on Friday, July 24th. Morgan Stanley reduced their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Finally, SunTrust Banks reduced their target price on shares of AT&T from $36.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 3rd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $35.29.

AT&T stock traded up $0.01 during midday trading on Friday, hitting $29.58. 38,694,208 shares of the company’s stock were exchanged, compared to its average volume of 32,539,284. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 12 month low of $26.08 and a 12 month high of $39.70. The firm has a 50-day moving average of $30.01 and a two-hundred day moving average of $32.47. The company has a market cap of $212.40 billion, a PE ratio of 18.15, a P/E/G ratio of 1.67 and a beta of 0.72.

AT&T (NYSE:T) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company had revenue of $40.95 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the prior year, the business earned $0.89 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 3.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend is Thursday, July 9th. AT&T’s dividend payout ratio is currently 58.26%.

About AT&T

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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