Douglass Winthrop Advisors LLC Reduces Stake in AT&T Inc. (T)

Douglass Winthrop Advisors LLC lessened its stake in AT&T Inc. (NYSE:T) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,672 shares of the technology company’s stock after selling 3,901 shares during the period. Douglass Winthrop Advisors LLC’s holdings in AT&T were worth $9,684,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of T. RiverFront Investment Group LLC increased its stake in AT&T by 0.3% during the first quarter. RiverFront Investment Group LLC now owns 513,842 shares of the technology company’s stock valued at $21,350,000 after purchasing an additional 1,614 shares during the last quarter. Benedict Financial Advisors Inc. increased its stake in AT&T by 3.3% during the first quarter. Benedict Financial Advisors Inc. now owns 71,555 shares of the technology company’s stock valued at $2,973,000 after purchasing an additional 2,259 shares during the last quarter. iAB Financial Bank increased its stake in AT&T by 2.5% during the first quarter. iAB Financial Bank now owns 21,840 shares of the technology company’s stock valued at $907,000 after purchasing an additional 540 shares during the last quarter. Moloney Securities Asset Management LLC increased its stake in AT&T by 3.1% during the first quarter. Moloney Securities Asset Management LLC now owns 79,410 shares of the technology company’s stock valued at $3,299,000 after purchasing an additional 2,403 shares during the last quarter. Finally, Callahan Advisors LLC increased its stake in AT&T by 3.9% during the first quarter. Callahan Advisors LLC now owns 241,132 shares of the technology company’s stock valued at $10,019,000 after purchasing an additional 8,993 shares during the last quarter. Institutional investors and hedge funds own 55.86% of the company’s stock.

AT&T Inc. (NYSE:T) traded up $0.06 during mid-day trading on Thursday, reaching $36.17. 24,528,571 shares of the company traded hands, compared to its average volume of 25,120,127. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.23. AT&T Inc. has a 1-year low of $32.55 and a 1-year high of $43.03. The firm has a market capitalization of $222,880.00, a P/E ratio of 12.47, a P/E/G ratio of 3.04 and a beta of 0.44.

AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter last year, the firm posted $0.74 earnings per share. AT&T’s revenue was down 3.0% compared to the same quarter last year. sell-side analysts expect that AT&T Inc. will post 2.92 EPS for the current fiscal year.

Several research firms have weighed in on T. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 target price for the company in a research note on Wednesday, August 16th. Moffett Nathanson reissued a “neutral” rating on shares of AT&T in a report on Monday, October 16th. Jefferies Group reissued a “buy” rating and set a $36.38 price target (down previously from $48.00) on shares of AT&T in a report on Friday, December 1st. Morgan Stanley boosted their price target on shares of AT&T from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, September 27th. Finally, Macquarie reissued a “buy” rating and set a $43.00 price target on shares of AT&T in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. AT&T presently has an average rating of “Hold” and an average price target of $42.81.

In other AT&T news, Director Matthew K. Rose purchased 29,600 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were purchased at an average cost of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the transaction, the director now owns 3,100 shares in the company, valued at $104,625. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

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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.

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

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