Douglas Lane & Associates LLC Boosts Stake in AT&T Inc. (NYSE:T)

Douglas Lane & Associates LLC raised its position in AT&T Inc. (NYSE:T) by 12.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 841,866 shares of the technology company’s stock after purchasing an additional 90,630 shares during the quarter. Douglas Lane & Associates LLC’s holdings in AT&T were worth $31,856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of T. Nuveen Asset Management LLC raised its position in AT&T by 1,723.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after purchasing an additional 43,525,113 shares during the period. Vanguard Group Inc. grew its stake in AT&T by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after acquiring an additional 6,744,699 shares in the last quarter. Morgan Stanley grew its stake in AT&T by 11.2% in the 2nd quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after acquiring an additional 5,931,167 shares in the last quarter. Covenant Multifamily Offices LLC bought a new position in AT&T in the 2nd quarter worth about $81,364,000. Finally, Bank of New York Mellon Corp grew its stake in AT&T by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,529,809 shares of the technology company’s stock worth $2,296,433,000 after acquiring an additional 2,201,538 shares in the last quarter. 53.04% of the stock is currently owned by institutional investors.

T has been the topic of a number of research analyst reports. Desjardins restated an “average” rating and issued a $55.50 target price on shares of AT&T in a research note on Tuesday, August 6th. ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Raymond James restated an “outperform” rating and issued a $40.00 target price (up from $35.00) on shares of AT&T in a research note on Monday, October 7th. JPMorgan Chase & Co. set a $39.00 target price on shares of AT&T and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Tuesday. They issued a “market perform” rating and a $36.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.28.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

NYSE T opened at $37.79 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $36.99 and its 200-day moving average price is $33.73. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75. The company has a market cap of $276.13 billion, a PE ratio of 10.74, a P/E/G ratio of 2.36 and a beta of 0.63.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. During the same period last year, the firm earned $0.91 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.40%. AT&T’s dividend payout ratio is presently 57.95%.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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