Massmutual Trust Co. FSB ADV Sells 131,088 Shares of AT&T Inc. (NYSE:T)

Massmutual Trust Co. FSB ADV lowered its stake in shares of AT&T Inc. (NYSE:TGet Rating) by 87.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,401 shares of the technology company’s stock after selling 131,088 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in AT&T were worth $386,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in T. Norges Bank purchased a new stake in AT&T during the fourth quarter valued at about $1,740,054,000. Vanguard Group Inc. lifted its holdings in AT&T by 2.3% during the first quarter. Vanguard Group Inc. now owns 585,666,367 shares of the technology company’s stock valued at $13,839,297,000 after purchasing an additional 13,066,523 shares during the last quarter. State Street Corp lifted its holdings in AT&T by 3.8% during the fourth quarter. State Street Corp now owns 317,213,113 shares of the technology company’s stock valued at $7,803,443,000 after purchasing an additional 11,494,986 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in AT&T by 71.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,743,313 shares of the technology company’s stock valued at $561,054,000 after purchasing an additional 9,921,029 shares during the last quarter. Finally, Capital World Investors lifted its holdings in AT&T by 18.5% during the first quarter. Capital World Investors now owns 55,989,998 shares of the technology company’s stock valued at $1,323,044,000 after purchasing an additional 8,729,013 shares during the last quarter. Institutional investors own 52.88% of the company’s stock.

AT&T Stock Down 0.1 %

Shares of AT&T stock opened at $16.74 on Monday. The company has a 50-day simple moving average of $18.32 and a two-hundred day simple moving average of $20.21. The stock has a market capitalization of $119.29 billion, a PE ratio of 6.15, a price-to-earnings-growth ratio of 1.97 and a beta of 0.48. AT&T Inc. has a 52-week low of $16.55 and a 52-week high of $21.53. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70.

AT&T (NYSE:TGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The company had revenue of $29.64 billion during the quarter, compared to analyst estimates of $29.48 billion. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.54 EPS for the current fiscal year.

AT&T Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend was Friday, July 8th. AT&T’s payout ratio is currently 40.81%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays downgraded shares of AT&T from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Friday, July 22nd. Moffett Nathanson lowered their price target on shares of AT&T from $19.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, August 18th. Wolfe Research lowered their price target on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating on the stock in a report on Thursday, June 2nd. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Wells Fargo & Company reduced their price target on shares of AT&T to $22.00 in a research report on Friday, July 22nd. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Hold” and an average price target of $23.78.

About AT&T

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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

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