AT&T Inc. $T Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust has reduced its holdings in AT&T Inc. by 10.0%, now owning 142,418 shares valued at approximately $4.12 million.
• AT&T recently reported a quarterly earnings per share (EPS) of $0.54, exceeding expectations, with revenue of $30.85 billion, a 3.4% increase from the previous year.
• The company has announced a quarterly dividend of $0.2775 per share, resulting in an annual yield of 4.0%, with the payment scheduled for November 3rd.

Greenleaf Trust reduced its holdings in AT&T Inc. (NYSE:T - Free Report) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,418 shares of the technology company's stock after selling 15,819 shares during the period. Greenleaf Trust's holdings in AT&T were worth $4,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of T. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T during the second quarter worth $26,000. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares in the last quarter. Core Alternative Capital increased its stake in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of AT&T in the 1st quarter worth $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T opened at $28.07 on Tuesday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm's 50 day moving average price is $28.62 and its 200 day moving average price is $27.91. The company has a market cap of $200.71 billion, a P/E ratio of 15.95, a PEG ratio of 3.62 and a beta of 0.44. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 10th. AT&T's payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on T shares. Bank of America began coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. UBS Group set a $33.00 price target on shares of AT&T in a report on Thursday, September 18th. Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

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.

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