AT&T Inc. $T Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of AT&T Inc. (NYSE:T) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,415,266 shares of the technology company’s stock after selling 31,496 shares during the period. Amalgamated Bank’s holdings in AT&T were worth $39,967,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of T. J. L. Bainbridge & Co. Inc. increased its holdings in AT&T by 1.7% during the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock worth $615,000 after purchasing an additional 355 shares in the last quarter. Financial & Tax Architects LLC boosted its holdings in AT&T by 4.9% during the second quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock worth $220,000 after purchasing an additional 356 shares during the last quarter. Roberts Glore & Co. Inc. IL grew its position in AT&T by 2.0% in the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after purchasing an additional 357 shares in the last quarter. Investment Partners LTD. increased its holdings in AT&T by 3.5% during the second quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after buying an additional 357 shares during the last quarter. Finally, Parcion Private Wealth LLC raised its position in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after acquiring an additional 364 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $23.50 on Friday. The stock has a market cap of $166.60 billion, a P/E ratio of 7.63, a PEG ratio of 1.28 and a beta of 0.39. AT&T Inc. has a 52-week low of $21.98 and a 52-week high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average of $24.80 and a 200 day moving average of $26.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s payout ratio is presently 36.04%.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. UBS Group reissued a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Wells Fargo & Company decreased their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Loop Capital set a $29.00 price objective on AT&T in a research note on Friday, December 19th. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Finally, Wolfe Research cut AT&T from an “outperform” rating to a “peer perform” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.36.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.