AT&T Inc. (NYSE:T) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in AT&T Inc. (NYSE:TGet Rating) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,259,300 shares of the technology company’s stock after selling 310,631 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of AT&T worth $147,907,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Toroso Investments LLC increased its holdings in AT&T by 35.3% in the first quarter. Toroso Investments LLC now owns 343,733 shares of the technology company’s stock valued at $8,122,000 after buying an additional 89,641 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in AT&T by 6.6% in the first quarter. Chicago Partners Investment Group LLC now owns 26,849 shares of the technology company’s stock valued at $543,000 after buying an additional 1,657 shares during the last quarter. Capital World Investors increased its holdings in AT&T by 18.5% in the first quarter. Capital World Investors now owns 55,989,998 shares of the technology company’s stock valued at $1,323,044,000 after buying an additional 8,729,013 shares during the last quarter. Magnolia Wealth Management LLC purchased a new position in AT&T in the first quarter valued at $1,700,000. Finally, Orion Portfolio Solutions LLC increased its holdings in AT&T by 8.4% in the first quarter. Orion Portfolio Solutions LLC now owns 61,607 shares of the technology company’s stock valued at $1,456,000 after buying an additional 4,782 shares during the last quarter. 52.88% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $16.77 on Thursday. AT&T Inc. has a 1 year low of $16.62 and a 1 year high of $21.53. The firm’s fifty day simple moving average is $18.58 and its 200 day simple moving average is $20.36. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $119.50 billion, a PE ratio of 6.17, a PEG ratio of 1.99 and a beta of 0.48.

AT&T (NYSE:TGet Rating) last posted its earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The business had revenue of $29.64 billion for the quarter, compared to analyst estimates of $29.48 billion. During the same period last year, the business posted $0.89 EPS. AT&T’s revenue was down 17.1% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.53 EPS for the current year.

AT&T Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a yield of 6.62%. AT&T’s payout ratio is presently 40.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on T shares. Moffett Nathanson dropped their price objective on AT&T from $19.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, August 18th. Raymond James restated an “outperform” rating and issued a $26.00 price objective on shares of AT&T in a research report on Thursday, July 7th. Barclays downgraded shares of AT&T from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Friday, July 22nd. Truist Financial reduced their price target on shares of AT&T to $21.00 in a research report on Friday, July 22nd. Finally, Wells Fargo & Company cut their price objective on AT&T to $22.00 in a research report on Friday, July 22nd. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.78.

AT&T Company Profile

(Get Rating)

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.

Recommended Stories

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.