AT&T Inc. (NYSE:T) Stake Boosted by Walleye Capital LLC

Walleye Capital LLC grew its stake in shares of AT&T Inc. (NYSE:TGet Rating) by 28.3% during the 1st quarter, HoldingsChannel reports. The fund owned 29,446 shares of the technology company’s stock after acquiring an additional 6,503 shares during the period. Walleye Capital LLC’s holdings in AT&T were worth $696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Barber Financial Group Inc. lifted its stake in shares of AT&T by 1.1% in the 1st quarter. Barber Financial Group Inc. now owns 39,438 shares of the technology company’s stock valued at $932,000 after purchasing an additional 424 shares during the last quarter. Vectors Research Management LLC lifted its stake in shares of AT&T by 2.0% in the 4th quarter. Vectors Research Management LLC now owns 24,123 shares of the technology company’s stock valued at $593,000 after purchasing an additional 474 shares during the last quarter. Somerset Trust Co lifted its stake in shares of AT&T by 1.2% in the 1st quarter. Somerset Trust Co now owns 41,360 shares of the technology company’s stock valued at $977,000 after purchasing an additional 474 shares during the last quarter. Meridian Wealth Partners LLC lifted its stake in shares of AT&T by 5.3% in the 4th quarter. Meridian Wealth Partners LLC now owns 10,550 shares of the technology company’s stock valued at $259,000 after purchasing an additional 528 shares during the last quarter. Finally, Independent Wealth Network Inc. lifted its stake in shares of AT&T by 1.8% in the 1st quarter. Independent Wealth Network Inc. now owns 29,525 shares of the technology company’s stock valued at $698,000 after purchasing an additional 530 shares during the last quarter. 52.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on T shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Barclays lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research report on Friday, July 22nd. Truist Financial cut their target price on shares of AT&T to $21.00 in a research report on Friday, July 22nd. Moffett Nathanson cut their target price on shares of AT&T from $19.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, August 18th. Finally, Tigress Financial cut their target price on shares of AT&T from $31.00 to $28.00 in a research report on Thursday, June 16th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.41.

AT&T Stock Down 1.2 %

Shares of T opened at $16.56 on Wednesday. The company has a 50-day simple moving average of $18.25 and a 200-day simple moving average of $20.13. The firm has a market capitalization of $118.01 billion, a P/E ratio of 6.09, a P/E/G ratio of 1.97 and a beta of 0.48. 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 Inc. has a 52 week low of $16.46 and a 52 week high of $21.53.

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

AT&T Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a yield of 6.70%. AT&T’s payout ratio is currently 40.81%.

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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