Dearborn Partners LLC Sells 37,533 Shares of AT&T Inc. (NYSE:T)

Dearborn Partners LLC decreased its holdings in AT&T Inc. (NYSE:T) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 819,014 shares of the technology company’s stock after selling 37,533 shares during the quarter. Dearborn Partners LLC’s holdings in AT&T were worth $24,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cubist Systematic Strategies LLC raised its position in shares of AT&T by 417.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 19,992 shares of the technology company’s stock worth $781,000 after acquiring an additional 16,125 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of AT&T by 17.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,231 shares of the technology company’s stock worth $356,000 after acquiring an additional 1,800 shares during the last quarter. Stillwater Investment Management LLC raised its position in shares of AT&T by 11.1% during the first quarter. Stillwater Investment Management LLC now owns 11,848 shares of the technology company’s stock worth $345,000 after acquiring an additional 1,186 shares during the last quarter. IMS Capital Management raised its position in shares of AT&T by 65.6% during the first quarter. IMS Capital Management now owns 31,122 shares of the technology company’s stock worth $907,000 after acquiring an additional 12,326 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC raised its position in shares of AT&T by 55.6% during the first quarter. Wiley BROS. Aintree Capital LLC now owns 18,674 shares of the technology company’s stock worth $544,000 after acquiring an additional 6,670 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

In related news, Director Stephen J. Luczo bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

T has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating and set a $33.00 price objective for the company. in a report on Wednesday, May 27th. ValuEngine downgraded AT&T from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Scotiabank upped their price objective on AT&T from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Finally, Guggenheim dropped their price objective on AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company. AT&T currently has an average rating of “Hold” and a consensus target price of $35.29.

Shares of T stock traded up $0.01 on Friday, hitting $29.58. 38,694,208 shares of the stock were exchanged, compared to its average volume of 32,539,284. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $212.40 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.67 and a beta of 0.72. The business has a 50-day moving average of $30.01 and a 200 day moving average of $32.47. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.08 annualized dividend and a dividend yield of 7.03%. 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.

Read More: Example of operating income, EBIT and EBITDA

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

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