Tower Bridge Advisors decreased its position in shares of AT&T Inc. (NYSE:T) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 185,841 shares of the technology company’s stock after selling 5,524 shares during the quarter. Tower Bridge Advisors’ holdings in AT&T were worth $5,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Guardian Investment Management increased its holdings in shares of AT&T by 8.4% in the second quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock valued at $4,598,000 after purchasing an additional 11,054 shares during the period. Ironsides Asset Advisors LLC boosted its stake in shares of AT&T by 450.8% in the second quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock valued at $1,735,000 after buying an additional 44,231 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of AT&T by 9.5% in the second quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock valued at $14,859,000 after buying an additional 40,293 shares in the last quarter. BP PLC boosted its stake in shares of AT&T by 30.5% in the second quarter. BP PLC now owns 914,826 shares of the technology company’s stock valued at $29,375,000 after buying an additional 213,826 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of AT&T by 14.1% in the second quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock valued at $1,622,000 after buying an additional 6,247 shares in the last quarter. 63.84% of the stock is currently owned by institutional investors.

In related news, Director Michael B. Mccallister purchased 4,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now directly owns 7,361 shares in the company, valued at approximately $214,499.54. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

T has been the topic of a number of analyst reports. Bank of America restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday, July 24th. Macquarie restated a “buy” rating and issued a $35.00 price target on shares of AT&T in a research note on Wednesday, September 12th. Tigress Financial upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Monday, October 22nd. Finally, UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and lifted their price target for the company from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $36.59.

T opened at $29.42 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market cap of $186.32 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 2.42 and a beta of 0.42. AT&T Inc. has a one year low of $28.85 and a one year high of $39.33.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). The firm had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts anticipate that AT&T Inc. will post 3.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.80%. AT&T’s dividend payout ratio (DPR) is 65.57%.

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AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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

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