Whittier Trust Co. of Nevada Inc. trimmed its position in AT&T Inc. (NYSE:T) by 1.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 226,292 shares of the technology company’s stock after selling 3,662 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in AT&T were worth $7,581,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. NuWave Investment Management LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $40,000. Contravisory Investment Management Inc. grew its position in shares of AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after acquiring an additional 338 shares during the period. Smart Portfolios LLC grew its position in shares of AT&T by 44.8% during the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Centaurus Financial Inc. boosted its holdings in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after buying an additional 333 shares during the period. Finally, Interactive Financial Advisors bought a new position in AT&T in the 1st quarter worth approximately $56,000. 52.93% of the stock is owned by institutional investors and hedge funds.
NYSE T traded up $0.22 on Tuesday, hitting $33.71. The stock had a trading volume of 16,475,864 shares, compared to its average volume of 32,354,234. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $34.64. 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 company has a market capitalization of $249.38 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 2.14 and a beta of 0.62. The business has a 50-day moving average of $33.39.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 6.05%. The ex-dividend date was Tuesday, July 9th. AT&T’s dividend payout ratio is presently 57.95%.
T has been the subject of several analyst reports. Bank of America reaffirmed a “buy” rating and issued a $37.00 price objective on shares of AT&T in a report on Monday, June 24th. Raymond James raised their price objective on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Cowen raised their price objective on shares of AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, 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 report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $36.78.
In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.
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.
Featured Story: Net Margin
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: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.