Symons Capital Management Inc. decreased its stake in AT&T Inc. (NYSE:T) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,117 shares of the technology company’s stock after selling 15,663 shares during the quarter. AT&T accounts for about 2.7% of Symons Capital Management Inc.’s portfolio, making the stock its 15th largest position. Symons Capital Management Inc.’s holdings in AT&T were worth $5,832,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in T. Nuveen Asset Management LLC increased its holdings in shares of AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after acquiring an additional 43,525,113 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of AT&T by 1.2% during the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after buying an additional 6,744,699 shares in the last quarter. Morgan Stanley grew its holdings in shares of AT&T by 11.2% during the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after buying an additional 5,931,167 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of AT&T by 18.1% during the third quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock worth $1,060,292,000 after buying an additional 4,292,231 shares in the last quarter. Finally, Covenant Multifamily Offices LLC bought a new position in shares of AT&T during the second quarter worth about $81,364,000. 52.94% of the stock is currently owned by hedge funds and other institutional investors.
T stock traded down $0.04 during mid-day trading on Friday, reaching $39.38. The company had a trading volume of 18,270,257 shares, compared to its average volume of 30,604,307. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.74 and a quick ratio of 0.71. The stock has a 50 day simple moving average of $37.87 and a two-hundred day simple moving average of $34.45. The company has a market capitalization of $287.75 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.47 and a beta of 0.64. AT&T Inc. has a 52 week low of $26.80 and a 52 week high of $39.58.
The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.18%. AT&T’s dividend payout ratio is 57.95%.
A number of research analysts recently issued reports on the company. National Bank Financial increased their price objective on AT&T from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday. DZ Bank reiterated a “hold” rating and set a $38.00 price objective on shares of AT&T in a report on Wednesday, September 18th. Bank of America reiterated a “buy” rating on shares of AT&T in a report on Monday, September 9th. UBS Group increased their price objective on AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein assumed coverage on AT&T in a report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $40.74.
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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