AT&T Inc. (NYSE:T) Shares Sold by Mackay Shields LLC

Mackay Shields LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 11.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,122,195 shares of the technology company’s stock after selling 144,884 shares during the quarter. Mackay Shields LLC’s holdings in AT&T were worth $32,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in AT&T by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 567,066,411 shares of the technology company’s stock valued at $16,320,170,000 after acquiring an additional 5,314,844 shares during the last quarter. BlackRock Inc. grew its holdings in AT&T by 3.4% in the 2nd quarter. BlackRock Inc. now owns 508,851,017 shares of the technology company’s stock valued at $14,644,734,000 after buying an additional 16,734,100 shares during the period. Geode Capital Management LLC boosted its position in shares of AT&T by 2.9% in the second quarter. Geode Capital Management LLC now owns 119,066,979 shares of the technology company’s stock worth $3,417,013,000 after acquiring an additional 3,364,659 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in AT&T by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 58,465,265 shares of the technology company’s stock valued at $1,682,572,000 after purchasing an additional 1,394,576 shares during the period. Finally, Legal & General Group Plc increased its position in AT&T by 5.9% during the second quarter. Legal & General Group Plc now owns 48,433,550 shares of the technology company’s stock worth $1,393,916,000 after purchasing an additional 2,716,736 shares during the last quarter. Institutional investors own 51.61% of the company’s stock.

T stock traded up $0.40 during midday trading on Thursday, reaching $25.70. The company had a trading volume of 1,494,702 shares, compared to its average volume of 40,974,293. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $27.36 and a 200 day moving average price of $28.85. The firm has a market capitalization of $183.50 billion, a PE ratio of -81.61, a P/E/G ratio of 2.11 and a beta of 0.78. AT&T Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $33.88.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $44.05 billion for the quarter, compared to the consensus estimate of $42.39 billion. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. Research analysts predict that AT&T Inc. will post 3.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Monday, October 11th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 8.09%. The ex-dividend date is Thursday, October 7th. AT&T’s payout ratio is currently 65.41%.

Several brokerages have recently issued reports on T. Tigress Financial reissued a “buy” rating and set a $36.00 price objective on shares of AT&T in a research note on Friday, July 9th. Loop Capital initiated coverage on AT&T in a report on Monday, September 20th. They issued a “hold” rating and a $30.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 26th. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating and raised their price target for the company from $23.00 to $28.00 in a report on Thursday, October 7th. Finally, Morgan Stanley downgraded shares of AT&T to an “equal weight” rating and set a $29.00 price objective for the company. in a research note on Friday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.69.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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