Monetary Management Group Inc. Sells 650 Shares of AT&T Inc. (NYSE:T)

Monetary Management Group Inc. lowered its position in AT&T Inc. (NYSE:T) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,825 shares of the technology company’s stock after selling 650 shares during the period. Monetary Management Group Inc.’s holdings in AT&T were worth $801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of AT&T by 3.4% in the 2nd quarter. BlackRock Inc. now owns 508,851,017 shares of the technology company’s stock valued at $14,644,734,000 after buying an additional 16,734,100 shares in the last quarter. Geode Capital Management LLC raised its position in AT&T by 2.9% in the 1st quarter. Geode Capital Management LLC now owns 115,702,320 shares of the technology company’s stock valued at $3,492,776,000 after buying an additional 3,240,700 shares during the last quarter. Nordea Investment Management AB raised its position in AT&T by 9.5% in the 1st quarter. Nordea Investment Management AB now owns 28,671,144 shares of the technology company’s stock valued at $871,890,000 after buying an additional 2,486,443 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in AT&T by 3.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 28,242,777 shares of the technology company’s stock valued at $854,909,000 after buying an additional 874,730 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in AT&T by 119.8% in the 1st quarter. Franklin Resources Inc. now owns 27,173,122 shares of the technology company’s stock valued at $822,532,000 after buying an additional 14,811,593 shares during the last quarter. Institutional investors and hedge funds own 51.61% of the company’s stock.

Shares of AT&T stock traded up $0.49 during trading on Monday, reaching $27.62. 597,875 shares of the company’s stock were exchanged, compared to its average volume of 40,642,012. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.73 and a current ratio of 0.77. AT&T Inc. has a 1-year low of $26.35 and a 1-year high of $33.88. The company has a market cap of $197.21 billion, a P/E ratio of -87.51, a PEG ratio of 2.11 and a beta of 0.78. The firm’s 50-day moving average price is $27.68 and its 200 day moving average price is $29.13.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The company had revenue of $44.05 billion during the quarter, compared to analysts’ expectations of $42.39 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. AT&T’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 3.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Monday, October 11th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, October 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.53%. AT&T’s dividend payout ratio (DPR) is currently 65.41%.

A number of equities research analysts recently issued reports on T shares. Tigress Financial reissued a “buy” rating and issued a $36.00 target price on shares of AT&T in a research report on Friday, July 9th. Argus lowered AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target on the stock. in a research report on Tuesday, July 27th. Loop Capital assumed coverage on AT&T in a research report on Monday, September 20th. They set a “hold” rating and a $30.00 price target on the stock. Royal Bank of Canada initiated coverage on AT&T in a research report on Thursday, July 22nd. They set a “hold” rating and a $30.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, AT&T has a consensus rating of “Hold” and a consensus price target of $31.10.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

See Also: Market Timing

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

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