Amalgamated Bank Lowers Stock Position in AT&T Inc. $T

Amalgamated Bank lowered its position in shares of AT&T Inc. (NYSE:T) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,446,762 shares of the technology company’s stock after selling 11,903 shares during the quarter. Amalgamated Bank’s holdings in AT&T were worth $41,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Field & Main Bank lifted its position in AT&T by 4.0% during the second quarter. Field & Main Bank now owns 27,780 shares of the technology company’s stock valued at $804,000 after buying an additional 1,075 shares during the period. Spinnaker Trust lifted its position in AT&T by 2.0% during the second quarter. Spinnaker Trust now owns 100,540 shares of the technology company’s stock valued at $2,910,000 after buying an additional 1,992 shares during the period. Savvy Advisors Inc. lifted its position in AT&T by 69.5% during the second quarter. Savvy Advisors Inc. now owns 91,488 shares of the technology company’s stock valued at $2,648,000 after buying an additional 37,514 shares during the period. Assetmark Inc. lifted its position in AT&T by 3.8% during the second quarter. Assetmark Inc. now owns 10,633,313 shares of the technology company’s stock valued at $307,728,000 after buying an additional 387,799 shares during the period. Finally, Keybank National Association OH increased its holdings in shares of AT&T by 2.5% during the second quarter. Keybank National Association OH now owns 1,180,563 shares of the technology company’s stock valued at $34,166,000 after acquiring an additional 29,148 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada cut their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Sanford C. Bernstein increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Trading Down 2.2%

AT&T stock opened at $25.13 on Thursday. The business has a 50-day simple moving average of $27.75 and a two-hundred day simple moving average of $27.74. The company has a market cap of $179.66 billion, a P/E ratio of 8.16, a P/E/G ratio of 2.21 and a beta of 0.42. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.