Lederer & Associates Investment Counsel CA Cuts Stake in AT&T Inc. (NYSE:T)

Lederer & Associates Investment Counsel CA decreased its position in shares of AT&T Inc. (NYSE:T) by 27.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 37,366 shares of the technology company’s stock after selling 14,180 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in AT&T were worth $1,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Levin Capital Strategies L.P. increased its stake in shares of AT&T by 2.7% in the 3rd quarter. Levin Capital Strategies L.P. now owns 7,691,075 shares of the technology company’s stock worth $258,266,000 after purchasing an additional 205,047 shares in the last quarter. Private Wealth Partners LLC increased its stake in AT&T by 35.7% in the 3rd quarter. Private Wealth Partners LLC now owns 163,148 shares of the technology company’s stock worth $5,479,000 after buying an additional 42,905 shares in the last quarter. Chemical Bank increased its stake in AT&T by 0.8% in the 3rd quarter. Chemical Bank now owns 227,448 shares of the technology company’s stock worth $7,638,000 after buying an additional 1,824 shares in the last quarter. Burleson & Company LLC increased its stake in AT&T by 77.7% in the 3rd quarter. Burleson & Company LLC now owns 123,576 shares of the technology company’s stock worth $3,751,000 after buying an additional 54,034 shares in the last quarter. Finally, Pratt Collard Advisory Partners LLC increased its stake in AT&T by 5.4% in the 4th quarter. Pratt Collard Advisory Partners LLC now owns 49,653 shares of the technology company’s stock worth $1,417,000 after buying an additional 2,534 shares in the last quarter. 64.60% of the stock is currently owned by hedge funds and other institutional investors.

T has been the subject of a number of research analyst reports. ValuEngine upgraded AT&T from a “sell” rating to a “hold” rating in a research report on Monday. Desjardins restated an “average” rating and set a $56.50 price objective on shares of AT&T in a research report on Friday, April 5th. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Cowen restated a “buy” rating and set a $35.00 price objective on shares of AT&T in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. AT&T has an average rating of “Buy” and a consensus price target of $36.32.

NYSE T traded down $0.13 during trading on Wednesday, hitting $32.28. The stock had a trading volume of 18,616,324 shares, compared to its average volume of 31,217,684. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $197.95 billion, a P/E ratio of 9.17, a PEG ratio of 1.35 and a beta of 0.58. AT&T Inc. has a one year low of $26.80 and a one year high of $34.53.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.86 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.86. The business had revenue of $44.83 billion for the quarter, compared to analyst estimates of $45.20 billion. AT&T had a net margin of 10.59% and a return on equity of 13.16%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 3.59 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

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AT&T 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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