Douglas Lane & Associates LLC Decreases Holdings in AT&T Inc. $T

Key Points

• Douglas Lane & Associates LLC reduced its holdings in AT&T Inc. by 10.8% in Q2, selling 11,172 shares, bringing their total to 91,907 shares valued at approximately $2.66 million.
• AT&T reported a quarterly earnings per share of $0.54, beating estimates, and revenue of $30.85 billion, which is a 3.4% increase from the previous year.
• The company announced a quarterly dividend of $0.2775 per share with a yield of 3.8%, and analysts maintain a consensus price target of around $30.60 for the stock.

Douglas Lane & Associates LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 10.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,907 shares of the technology company's stock after selling 11,172 shares during the period. Douglas Lane & Associates LLC's holdings in AT&T were worth $2,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after buying an additional 8,185,006 shares during the last quarter. GQG Partners LLC lifted its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in AT&T by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock worth $1,561,514,000 after buying an additional 1,783,363 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after buying an additional 1,307,009 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.3%

T opened at $29.59 on Monday. The business has a 50 day moving average price of $28.31 and a two-hundred day moving average price of $27.74. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market cap of $211.58 billion, a PE ratio of 16.81, a P/E/G ratio of 3.68 and a beta of 0.44. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T's payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on T shares. JPMorgan Chase & Co. boosted their target price on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America started coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price for the company. Scotiabank boosted their target price on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Wells Fargo & Company boosted their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Morgan Stanley boosted their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.60.

AT&T 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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