AT&T Inc. (NYSE:T) Shares Sold by Highlander Capital Management LLC

Highlander Capital Management LLC lowered its holdings in shares of AT&T Inc. (NYSE:T – Get Rating) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,441 shares of the technology company’s stock after selling 2,400 shares during the period. Highlander Capital Management LLC’s holdings in AT&T were worth $1,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of AT&T by 16.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,822,788 shares of the technology company’s stock valued at $94,041,000 after buying an additional 533,468 shares during the last quarter. Bailard Inc. grew its stake in shares of AT&T by 19.1% during the 1st quarter. Bailard Inc. now owns 12,407 shares of the technology company’s stock valued at $293,000 after buying an additional 1,994 shares during the period. CAPROCK Group Inc. increased its holdings in shares of AT&T by 55.2% during the 1st quarter. CAPROCK Group Inc. now owns 51,579 shares of the technology company’s stock worth $1,219,000 after buying an additional 18,347 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of AT&T by 8.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 464,835 shares of the technology company’s stock worth $11,435,000 after buying an additional 37,205 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of AT&T by 1.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 67,128 shares of the technology company’s stock worth $1,586,000 after buying an additional 1,152 shares during the last quarter. Institutional investors and hedge funds own 53.47% of the company’s stock.

AT&T Stock Up 0.4 %

Shares of AT&T stock opened at $18.35 on Friday. The business has a 50-day moving average of $20.11 and a 200-day moving average of $21.67. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.72 and a quick ratio of 0.65. The company has a market capitalization of $131.37 billion, a PE ratio of 6.75, a P/E/G ratio of 1.98 and a beta of 0.47. AT&T Inc. has a 1-year low of $16.62 and a 1-year high of $21.53.

AT&T (NYSE:T – Get Rating) last announced its earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a return on equity of 13.09% and a net margin of 13.41%. The company’s revenue was down 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.51 EPS for the current fiscal year.

AT&T Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, July 8th. This represents a $1.11 annualized dividend and a dividend yield of 6.05%. AT&T’s payout ratio is 40.81%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on AT&T from $24.00 to $22.00 in a report on Friday, July 22nd. Wells Fargo & Company dropped their price objective on AT&T to $22.00 in a report on Friday, July 22nd. Cowen dropped their price objective on AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Truist Financial dropped their price objective on AT&T to $21.00 in a report on Friday, July 22nd. Finally, Royal Bank of Canada dropped their price objective on AT&T from $30.00 to $20.00 and set a “sector perform” rating for the company in a report on Monday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.89.

AT&T Company Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.