PGGM Investments Sells 813,306 Shares of AT&T Inc. (T)

PGGM Investments trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,048,102 shares of the technology company’s stock after selling 813,306 shares during the period. AT&T comprises approximately 1.7% of PGGM Investments’ portfolio, making the stock its 6th largest position. PGGM Investments owned about 0.15% of AT&T worth $341,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Taylor Wealth Management Partners boosted its holdings in shares of AT&T by 0.4% during the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after purchasing an additional 11 shares during the period. Cedar Wealth Management LLC lifted its holdings in AT&T by 0.9% in the first quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock worth $228,000 after buying an additional 50 shares during the period. Lathrop Investment Management Corp lifted its holdings in AT&T by 0.3% in the first quarter. Lathrop Investment Management Corp now owns 24,960 shares of the technology company’s stock worth $1,037,000 after buying an additional 73 shares during the period. Headinvest LLC lifted its holdings in AT&T by 0.3% in the second quarter. Headinvest LLC now owns 28,069 shares of the technology company’s stock worth $1,059,000 after buying an additional 74 shares during the period. Finally, Moon Capital Management LLC lifted its holdings in AT&T by 0.3% in the second quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock worth $824,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 55.01% of the company’s stock.

Shares of AT&T Inc. (T) traded up 2.15% on Friday, hitting $37.10. 47,942,916 shares of the stock traded hands. The stock has a 50 day moving average of $37.65 and a 200 day moving average of $38.92. The company has a market cap of $227.79 billion, a PE ratio of 17.43 and a beta of 0.49. AT&T Inc. has a one year low of $35.10 and a one year high of $43.03.

AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion for the quarter, compared to analyst estimates of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Equities analysts anticipate that AT&T Inc. will post $2.94 earnings per share for the current year.

Several analysts have commented on the stock. Royal Bank Of Canada set a $42.00 price objective on shares of AT&T and gave the stock a “hold” rating in a report on Saturday, May 20th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price objective for the company in a report on Wednesday, August 16th. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating in a report on Tuesday, May 30th. They noted that the move was a valuation call. Cowen and Company restated a “market perform” rating and issued a $41.00 price objective (down from $43.00) on shares of AT&T in a report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.41.

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About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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

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