Manchester Capital Management LLC Lowers Stake in AT&T Inc. (NYSE:T)

Manchester Capital Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 12.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,318 shares of the technology company’s stock after selling 2,980 shares during the quarter. Manchester Capital Management LLC’s holdings in AT&T were worth $579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in AT&T by 102.9% in the second quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock worth $1,504,524,000 after acquiring an additional 25,658,276 shares during the period. Laidlaw Wealth Management LLC lifted its stake in AT&T by 6,014.1% in the second quarter. Laidlaw Wealth Management LLC now owns 4,833,192 shares of the technology company’s stock worth $160,000 after acquiring an additional 4,754,142 shares during the period. LSV Asset Management lifted its stake in AT&T by 14.8% in the second quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock worth $843,455,000 after acquiring an additional 3,606,476 shares during the period. Two Sigma Advisers LP lifted its stake in AT&T by 192.3% in the second quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock worth $163,594,000 after acquiring an additional 3,560,031 shares during the period. Finally, Newport Trust Co lifted its stake in AT&T by 1.7% in the second quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock worth $6,075,279,000 after acquiring an additional 3,397,127 shares during the period. 52.29% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:T opened at $26.50 on Thursday. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.70. The company’s 50 day moving average is $28.28 and its 200 day moving average is $29.64. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The company has a market cap of $188.81 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69.

AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). AT&T had a return on equity of 13.03% and a net margin of 6.84%. The business had revenue of $42.43 billion during the quarter, compared to analyst estimates of $41.66 billion. During the same quarter last year, the company posted $0.94 EPS. AT&T’s quarterly revenue was down 4.8% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 3.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a $0.52 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.08 annualized dividend and a yield of 7.85%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.

T has been the subject of a number of research reports. Bank of America reaffirmed a “buy” rating and issued a $36.00 price objective on shares of AT&T in a research note on Friday, July 24th. KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a report on Monday, October 5th. Morgan Stanley reduced their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Barclays started coverage on shares of AT&T in a report on Friday, October 2nd. They issued an “overweight” rating for the company. Finally, Royal Bank of Canada reduced their target price on shares of AT&T from $32.00 to $30.00 in a report on Monday. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.58.

AT&T 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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