Resources Management Corp CT ADV Sells 20,662 Shares of AT&T Inc. (NYSE:T)

Resources Management Corp CT ADV lowered its stake in shares of AT&T Inc. (NYSE:TGet Rating) by 48.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,919 shares of the technology company’s stock after selling 20,662 shares during the period. Resources Management Corp CT ADV’s holdings in AT&T were worth $518,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in T. Norges Bank bought a new position in shares of AT&T in the 4th quarter worth approximately $1,740,054,000. Renaissance Technologies LLC lifted its stake in shares of AT&T by 3,382.1% in the 4th quarter. Renaissance Technologies LLC now owns 18,733,486 shares of the technology company’s stock worth $460,844,000 after purchasing an additional 18,195,486 shares during the period. Vanguard Group Inc. increased its holdings in AT&T by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 585,666,367 shares of the technology company’s stock worth $13,839,297,000 after acquiring an additional 13,066,523 shares in the last quarter. State Street Corp increased its holdings in AT&T by 3.8% in the 4th quarter. State Street Corp now owns 317,213,113 shares of the technology company’s stock worth $7,803,443,000 after acquiring an additional 11,494,986 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in AT&T by 71.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,743,313 shares of the technology company’s stock worth $561,054,000 after acquiring an additional 9,921,029 shares in the last quarter. Institutional investors own 52.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on T. Deutsche Bank Aktiengesellschaft reduced their target price on shares of AT&T from $24.00 to $22.00 in a report on Friday, July 22nd. Cowen reduced their target price on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Tigress Financial reduced their target price on shares of AT&T from $31.00 to $28.00 in a report on Thursday, June 16th. Truist Financial cut their price objective on shares of AT&T to $21.00 in a report on Friday, July 22nd. Finally, Wolfe Research cut their price objective on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Hold” and a consensus price target of $23.78.

AT&T Trading Down 0.4 %

T stock opened at $16.77 on Thursday. The firm has a fifty day moving average price of $18.58 and a 200 day moving average price of $20.36. AT&T Inc. has a fifty-two week low of $16.62 and a fifty-two week high of $21.53. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70. The firm has a market cap of $119.50 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.48.

AT&T (NYSE:TGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 13.11% and a net margin of 13.41%. AT&T’s revenue was down 17.1% on a year-over-year basis. During the same period last year, the company earned $0.89 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.53 earnings per share for the current fiscal year.

AT&T Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were given 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 6.62%. AT&T’s dividend payout ratio is presently 40.81%.

About AT&T

(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.

See Also

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:TGet Rating).

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.