Aries Wealth Management decreased its position in AT&T Inc. (NYSE:T) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,124 shares of the technology company’s stock after selling 900 shares during the period. Aries Wealth Management’s holdings in AT&T were worth $517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newport Trust Co grew its stake in shares of AT&T by 1.7% in the second quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock worth $6,075,279,000 after purchasing an additional 3,397,127 shares in the last quarter. Nordea Investment Management AB lifted its holdings in AT&T by 102.9% in the second quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock worth $1,504,524,000 after purchasing an additional 25,658,276 shares during the period. LSV Asset Management grew its position in AT&T by 14.8% in 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. California Public Employees Retirement System increased its stake in AT&T by 0.4% during the 2nd quarter. California Public Employees Retirement System now owns 27,351,579 shares of the technology company’s stock valued at $826,838,000 after buying an additional 107,834 shares during the period. Finally, Macquarie Group Ltd. raised its position in shares of AT&T by 0.9% during the 2nd quarter. Macquarie Group Ltd. now owns 21,778,950 shares of the technology company’s stock worth $658,113,000 after buying an additional 199,575 shares in the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.

Shares of AT&T stock opened at $27.33 on Friday. AT&T Inc. has a 12 month low of $26.08 and a 12 month high of $39.70. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market cap of $194.73 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. The business has a fifty day simple moving average of $28.84 and a 200-day simple moving average of $29.74.

AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The firm had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Analysts expect that AT&T Inc. will post 3.21 EPS for the current fiscal year.

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

In related news, Director Stephen J. Luczo acquired 100,000 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were purchased at an average price 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 accessible through the SEC website. Insiders own 0.07% of the company’s stock.

T has been the topic of a number of research analyst reports. Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and lowered their price objective for the company from $34.00 to $30.00 in a research note on Monday, August 31st. KeyCorp downgraded AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective on the stock. in a research note on Monday, October 5th. Oppenheimer restated a “buy” rating and issued a $38.00 price objective on shares of AT&T in a report on Thursday, October 1st. Morgan Stanley lowered their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and an average 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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