Barrett Asset Management LLC Has $441,000 Stock Position in AT&T Inc. (NYSE:T)

Barrett Asset Management LLC reduced its stake in shares of AT&T Inc. (NYSE:TGet Rating) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,688 shares of the technology company’s stock after selling 1,000 shares during the quarter. Barrett Asset Management LLC’s holdings in AT&T were worth $441,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Barber Financial Group Inc. grew its holdings in shares of AT&T by 1.1% during the 1st quarter. Barber Financial Group Inc. now owns 39,438 shares of the technology company’s stock worth $932,000 after purchasing an additional 424 shares in the last quarter. Vectors Research Management LLC lifted its position in shares of AT&T by 2.0% during the 4th quarter. Vectors Research Management LLC now owns 24,123 shares of the technology company’s stock worth $593,000 after buying an additional 474 shares during the last quarter. Somerset Trust Co lifted its position in shares of AT&T by 1.2% during the 1st quarter. Somerset Trust Co now owns 41,360 shares of the technology company’s stock worth $977,000 after buying an additional 474 shares during the last quarter. Meridian Wealth Partners LLC lifted its position in shares of AT&T by 5.3% during the 4th quarter. Meridian Wealth Partners LLC now owns 10,550 shares of the technology company’s stock worth $259,000 after buying an additional 528 shares during the last quarter. Finally, Zhang Financial LLC lifted its position in shares of AT&T by 3.5% during the 4th quarter. Zhang Financial LLC now owns 15,615 shares of the technology company’s stock worth $384,000 after buying an additional 529 shares during the last quarter. 52.88% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 1.6 %

NYSE T opened at $17.03 on Friday. The business has a 50 day simple moving average of $18.74 and a 200 day simple moving average of $20.45. AT&T Inc. has a one year low of $16.62 and a one year high of $21.53. The stock has a market capitalization of $121.36 billion, a P/E ratio of 6.26, a P/E/G ratio of 1.83 and a beta of 0.48. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.64.

AT&T (NYSE:TGet Rating) last released its earnings results on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The business had revenue of $29.64 billion during the quarter, compared to analysts’ expectations of $29.48 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm’s revenue was down 17.1% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.53 earnings per share for the current year.

AT&T Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a yield of 6.52%. AT&T’s dividend payout ratio (DPR) is presently 40.81%.

Analyst Ratings Changes

Several brokerages recently weighed in on T. Deutsche Bank Aktiengesellschaft dropped their price objective on AT&T from $24.00 to $22.00 in a research report on Friday, July 22nd. Barclays downgraded AT&T from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $20.00 in a research report on Friday, July 22nd. Tigress Financial dropped their price objective on AT&T from $31.00 to $28.00 in a research report on Thursday, June 16th. Wolfe Research dropped their price objective on AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Finally, Moffett Nathanson dropped their target price on AT&T from $19.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, August 18th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.78.

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.

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

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