Allred Capital Management LLC Sells 4,059 Shares of AT&T Inc. (NYSE:T)

Allred Capital Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 9.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,501 shares of the technology company’s stock after selling 4,059 shares during the period. Allred Capital Management LLC’s holdings in AT&T were worth $1,154,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of T. Nordea Investment Management AB lifted its position in shares of AT&T by 102.9% during the 2nd quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock valued at $1,504,524,000 after buying an additional 25,658,276 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of AT&T during the 1st quarter valued at about $138,850,000. Laidlaw Wealth Management LLC lifted its position in shares of AT&T by 6,014.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 4,833,192 shares of the technology company’s stock valued at $160,000 after buying an additional 4,754,142 shares in the last quarter. LSV Asset Management lifted its position in shares of AT&T by 14.8% during the 2nd quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock valued at $843,455,000 after buying an additional 3,606,476 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of AT&T by 192.3% during the 2nd quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock valued at $163,594,000 after buying an additional 3,560,031 shares in the last quarter. 52.29% of the stock is currently owned by hedge funds and other institutional investors.

NYSE T opened at $27.33 on Friday. The company has a market cap of $194.73 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.64 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $28.84 and its 200-day moving average price is $29.74. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70.

AT&T (NYSE:T) last released its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The firm had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. As a group, equities analysts predict that AT&T Inc. will post 3.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio (DPR) is currently 58.26%.

In related news, Director Stephen J. Luczo acquired 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

T has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Barclays initiated coverage on AT&T in a report on Friday, October 2nd. They issued an “overweight” rating on the stock. Morgan Stanley lowered their price target on AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Oppenheimer reissued a “buy” rating and issued a $38.00 price target on shares of AT&T in a report on Thursday, October 1st. Finally, Royal Bank of Canada boosted their price target on AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. AT&T presently has an average rating of “Hold” and a consensus price target of $33.56.

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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