AT&T Inc. (NYSE:T) Stock Position Boosted by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC boosted its stake in AT&T Inc. (NYSE:T) by 15.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,001 shares of the technology company’s stock after buying an additional 7,678 shares during the period. SevenBridge Financial Group LLC’s holdings in AT&T were worth $1,910,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its stake in AT&T by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after buying an additional 3,097,958 shares in the last quarter. Clearbridge Investments LLC lifted its stake in AT&T by 2.3% during the first quarter. Clearbridge Investments LLC now owns 14,581,520 shares of the technology company’s stock valued at $457,276,000 after buying an additional 325,895 shares in the last quarter. Rhumbline Advisers lifted its stake in AT&T by 0.9% during the fourth quarter. Rhumbline Advisers now owns 12,905,393 shares of the technology company’s stock valued at $368,320,000 after buying an additional 113,996 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in AT&T by 15.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 10,869,000 shares of the technology company’s stock valued at $310,201,000 after buying an additional 1,485,000 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in AT&T by 8.2% during the first quarter. First Trust Advisors LP now owns 8,189,462 shares of the technology company’s stock valued at $256,822,000 after buying an additional 620,243 shares in the last quarter. Institutional investors own 52.91% of the company’s stock.

In related news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.

A number of analysts have commented on the stock. Morgan Stanley reaffirmed a “buy” rating and set a $37.00 price objective on shares of AT&T in a research note on Thursday. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Thursday, July 25th. Cowen upped their price objective on shares of AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Raymond James upped their price objective on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.78.

Shares of NYSE T traded up $0.05 during mid-day trading on Friday, reaching $34.17. The company had a trading volume of 36,474,488 shares, compared to its average volume of 31,755,744. The business has a fifty day simple moving average of $33.30. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $249.01 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 2.14 and a beta of 0.62. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $34.64.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. Research analysts expect that AT&T Inc. will post 3.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s dividend payout ratio (DPR) is 57.95%.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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