Scotia Capital Inc. Sells 43,518 Shares of AT&T Inc. (NYSE:T)

Scotia Capital Inc. reduced its position in AT&T Inc. (NYSE:T) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,428,403 shares of the technology company’s stock after selling 43,518 shares during the period. Scotia Capital Inc.’s holdings in AT&T were worth $41,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of T. BlackRock Inc. increased its holdings in AT&T by 3.4% during the 2nd quarter. BlackRock Inc. now owns 508,851,017 shares of the technology company’s stock worth $14,644,734,000 after purchasing an additional 16,734,100 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AT&T by 2.9% during the first quarter. Geode Capital Management LLC now owns 115,702,320 shares of the technology company’s stock valued at $3,492,776,000 after buying an additional 3,240,700 shares during the last quarter. Nordea Investment Management AB grew its holdings in AT&T by 9.5% during the first quarter. Nordea Investment Management AB now owns 28,671,144 shares of the technology company’s stock worth $871,890,000 after buying an additional 2,486,443 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in AT&T by 3.2% during the first quarter. UBS Asset Management Americas Inc. now owns 28,242,777 shares of the technology company’s stock worth $854,909,000 after buying an additional 874,730 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in AT&T by 119.8% in the 1st quarter. Franklin Resources Inc. now owns 27,173,122 shares of the technology company’s stock valued at $822,532,000 after buying an additional 14,811,593 shares during the last quarter. Institutional investors own 51.61% of the company’s stock.

T has been the subject of several recent analyst reports. Royal Bank of Canada initiated coverage on shares of AT&T in a research note on Thursday, July 22nd. They issued a “hold” rating and a $30.00 target price for the company. Redburn Partners began coverage on shares of AT&T in a research report on Friday, June 25th. They issued a “sell” rating and a $23.00 price objective for the company. Tigress Financial reissued a “buy” rating and set a $36.00 target price on shares of AT&T in a research report on Friday, July 9th. Citigroup cut their target price on AT&T from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, August 31st. Finally, Argus downgraded AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target for the company. in a research report on Tuesday, July 27th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Hold” and an average price target of $31.10.

Shares of NYSE T traded up $0.07 during mid-day trading on Tuesday, hitting $27.47. The company had a trading volume of 228,000 shares, compared to its average volume of 40,596,031. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. AT&T Inc. has a 1 year low of $26.35 and a 1 year high of $33.88. The company has a market capitalization of $196.14 billion, a price-to-earnings ratio of -88.38, a P/E/G ratio of 2.11 and a beta of 0.78. The stock’s 50-day moving average price is $27.67 and its 200-day moving average price is $29.11.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 21st. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The business had revenue of $44.05 billion during the quarter, compared to the consensus estimate of $42.39 billion. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 3.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Monday, October 11th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, October 7th. This represents a $2.08 annualized dividend and a yield of 7.57%. AT&T’s dividend payout ratio is currently 65.41%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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