The BTR Capital Management Inc. Lowers Stake in AT&T Inc. (T)

The BTR Capital Management Inc. Lowers Stake in AT&T Inc. (T)

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in AT&T during the fourth quarter valued at approximately $2,416,759,000. Asset Management One Co. Ltd. boosted its position in shares of AT&T by 731.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 10,876,186 shares of the technology company’s stock valued at $462,693,000 after buying an additional 9,568,534 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of AT&T by 2,630.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,225,260 shares of the technology company’s stock worth $137,171,000 after buying an additional 3,107,120 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of AT&T by 26.5% in the fourth quarter. Teachers Advisors LLC now owns 13,610,660 shares of the technology company’s stock worth $578,861,000 after buying an additional 2,849,017 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of AT&T by 4,357.5% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,049,259 shares of the technology company’s stock worth $2,049,000 after buying an additional 2,003,286 shares during the last quarter. 55.29% of the stock is currently owned by institutional investors.

BTR Capital Management Inc. lowered its position in shares of AT&T Inc. (NYSE:T) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,366 shares of the technology company’s stock after selling 4,844 shares during the period. BTR Capital Management Inc.’s holdings in AT&T were worth $2,674,000 at the end of the most recent quarter.

Shares of AT&T Inc. (NYSE:T) traded down 1.57% on Wednesday, reaching $38.27. 34,610,544 shares of the company were exchanged. The firm has a 50 day moving average price of $37.65 and a 200-day moving average price of $39.78. AT&T Inc. has a 12-month low of $35.81 and a 12-month high of $43.48. The stock has a market capitalization of $234.98 billion, a PE ratio of 18.06 and a beta of 0.47.

AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion for the quarter, compared to analyst estimates of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, analysts predict that AT&T Inc. will post $2.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date was Thursday, July 6th. AT&T’s payout ratio is 92.45%.

Several brokerages have recently commented on T. BidaskClub raised AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Vetr lowered AT&T from a “strong-buy” rating to a “buy” rating and set a $40.69 price target on the stock. in a research note on Wednesday, July 26th. Cowen and Company reaffirmed a “market perform” rating and set a $41.00 price objective (down from $43.00) on shares of AT&T in a report on Wednesday, July 26th. Finally, Barclays PLC reduced their target price on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $43.40.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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