Lbp Am Sa Sells 183,601 Shares of AT&T Inc. $T

Key Points

• Lbp Am Sa sold 183,601 shares of AT&T Inc., reducing its holdings by 40.5% in the 2nd quarter, bringing its total ownership to 269,694 shares valued at approximately $7.8 million.
• Several institutional investors, including PBMares Wealth Management and Truist Financial Corp, have increased their stakes in AT&T, highlighting continued institutional interest in the company.
• AT&T recently declared a quarterly dividend of $0.2775 per share, leading to an annualized yield of 4.0% and a payout ratio of 63.07%.

Lbp Am Sa decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 40.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,694 shares of the technology company's stock after selling 183,601 shares during the period. Lbp Am Sa's holdings in AT&T were worth $7,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. PBMares Wealth Management LLC raised its stake in AT&T by 6.4% in the second quarter. PBMares Wealth Management LLC now owns 28,136 shares of the technology company's stock valued at $814,000 after buying an additional 1,696 shares during the period. Generali Investments CEE investicni spolecnost a.s. raised its stake in AT&T by 15.2% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 134,821 shares of the technology company's stock valued at $3,902,000 after buying an additional 17,794 shares during the period. Cooper Financial Group raised its stake in AT&T by 9.7% in the second quarter. Cooper Financial Group now owns 26,903 shares of the technology company's stock valued at $779,000 after buying an additional 2,387 shares during the period. Alley Investment Management Company LLC bought a new stake in AT&T in the second quarter valued at approximately $3,885,000. Finally, Truist Financial Corp raised its stake in AT&T by 1.6% in the second quarter. Truist Financial Corp now owns 5,400,197 shares of the technology company's stock valued at $156,282,000 after buying an additional 82,879 shares during the period. Institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on T shares. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. JPMorgan Chase & Co. increased their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. Barclays reiterated an "equal weight" rating and set a $30.00 target price on shares of AT&T in a research note on Wednesday. Finally, UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $30.74.

AT&T Trading Down 2.5%

Shares of NYSE:T opened at $27.55 on Thursday. The company has a market capitalization of $196.96 billion, a P/E ratio of 15.65, a P/E/G ratio of 3.62 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business's 50 day simple moving average is $28.63 and its 200 day simple moving average is $27.91.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

About AT&T

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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