Brightworth Has $353,000 Stake in AT&T Inc. (T)

Brightworth lowered its stake in shares of AT&T Inc. (NYSE:T) by 36.3% during the second quarter, HoldingsChannel reports. The firm owned 10,989 shares of the technology company’s stock after selling 6,275 shares during the quarter. Brightworth’s holdings in AT&T were worth $353,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Guardian Investment Management increased its holdings in shares of AT&T by 8.4% during the 2nd quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock worth $4,598,000 after acquiring an additional 11,054 shares during the last quarter. Ironsides Asset Advisors LLC increased its holdings in shares of AT&T by 450.8% during the 2nd quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock worth $1,735,000 after acquiring an additional 44,231 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of AT&T by 9.5% during the 2nd quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock worth $14,859,000 after acquiring an additional 40,293 shares during the last quarter. BP PLC increased its holdings in shares of AT&T by 30.5% during the 2nd quarter. BP PLC now owns 914,826 shares of the technology company’s stock worth $29,375,000 after acquiring an additional 213,826 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of AT&T by 14.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock worth $1,622,000 after acquiring an additional 6,247 shares during the last quarter. Institutional investors own 64.77% of the company’s stock.

A number of research analysts recently weighed in on T shares. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Bank of America raised AT&T from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Monday, July 30th. They noted that the move was a valuation call. Credit Suisse Group started coverage on AT&T in a report on Tuesday, July 10th. They set an “underperform” rating and a $29.00 target price on the stock. Argus reissued a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Friday. Finally, Macquarie reissued a “buy” rating and set a $35.00 target price on shares of AT&T in a report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.95.

In related news, Director Michael B. Mccallister bought 4,000 shares of AT&T stock in a transaction dated Friday, October 26th. The shares were bought at an average cost of $29.14 per share, with a total value of $116,560.00. Following the acquisition, the director now owns 7,361 shares in the company, valued at approximately $214,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Piazza Samuel A. Jr. Di bought 7,690 shares of AT&T stock in a transaction dated Wednesday, August 8th. The shares were bought at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the acquisition, the director now owns 31,405 shares in the company, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Shares of NYSE T opened at $29.64 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. AT&T Inc. has a one year low of $28.85 and a one year high of $39.33. The firm has a market capitalization of $178.58 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 2.33 and a beta of 0.39.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). The company had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Equities analysts forecast that AT&T Inc. will post 3.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Tuesday, October 9th. AT&T’s dividend payout ratio (DPR) is currently 65.57%.

AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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

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