Nwam LLC Cuts Stake in AT&T Inc. (NYSE:T)

Nwam LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 50.1% in the 3rd quarter, Holdings Channel reports. The fund owned 42,199 shares of the technology company’s stock after selling 42,337 shares during the quarter. Nwam LLC’s holdings in AT&T were worth $1,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jaffetilchin Investment Partners LLC grew its stake in shares of AT&T by 10.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock valued at $37,000 after buying an additional 1,248 shares during the period. NWK Group Inc. acquired a new position in shares of AT&T in the 2nd quarter worth approximately $65,000. JJJ Advisors Inc. lifted its holdings in shares of AT&T by 212.3% in the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,507 shares during the last quarter. Provident Wealth Management LLC acquired a new position in shares of AT&T in the 3rd quarter worth approximately $70,000. Finally, Litman Gregory Asset Management LLC lifted its holdings in shares of AT&T by 844.0% in the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after acquiring an additional 2,667 shares during the last quarter. 52.29% of the stock is owned by institutional investors.

In related news, Director Stephen J. Luczo bought 100,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 reports. Barclays initiated coverage on shares of AT&T in a report on Friday, October 2nd. They set an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the stock from $34.00 to $30.00 in a report on Monday, August 31st. KeyCorp lowered shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Monday, October 5th. Finally, Oppenheimer reissued a “buy” rating and issued a $38.00 price objective on shares of AT&T in a research report on Thursday, October 1st. Six 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 presently has a consensus rating of “Hold” and a consensus price target of $33.56.

T traded down $0.12 during midday trading on Friday, reaching $27.33. 29,326,146 shares of the company’s stock were exchanged, compared to its average volume of 39,136,250. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $194.73 billion, a PE ratio of 16.77, a P/E/G ratio of 1.64 and a beta of 0.69. 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 1-year low of $26.08 and a 1-year high of $39.70.

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

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

AT&T 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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