Pettyjohn Wood & White Inc. increased its holdings in AT&T Inc. (NYSE:T) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,160 shares of the technology company’s stock after purchasing an additional 8,887 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in AT&T were worth $2,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Nordea Investment Management AB raised its holdings in shares of AT&T by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after acquiring an additional 3,097,958 shares during the period. Covenant Multifamily Offices LLC acquired a new stake in shares of AT&T during the second quarter valued at approximately $81,364,000. Oregon Public Employees Retirement Fund raised its holdings in shares of AT&T by 140.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,387,550 shares of the technology company’s stock valued at $96,681,000 after acquiring an additional 1,978,124 shares during the period. First Trust Advisors LP raised its holdings in shares of AT&T by 24.0% during the second quarter. First Trust Advisors LP now owns 10,154,439 shares of the technology company’s stock valued at $340,275,000 after acquiring an additional 1,964,977 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of AT&T by 34.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 6,924,472 shares of the technology company’s stock valued at $229,188,000 after acquiring an additional 1,762,632 shares during the period. Institutional investors and hedge funds own 52.63% of the company’s stock.

T traded up $0.04 on Wednesday, reaching $35.02. 3,378,766 shares of the company traded hands, compared to its average volume of 34,435,740. The stock’s 50 day moving average price is $33.95 and its 200-day moving average price is $31.95. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $35.44. The company has a market cap of $255.53 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s dividend payout ratio is 57.95%.

A number of equities research analysts have recently issued reports on the stock. Desjardins restated an “average” rating and set a $55.50 price target on shares of AT&T in a report on Tuesday, August 6th. Cowen boosted their price objective on shares of AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $37.00 price objective on shares of AT&T in a research report on Monday, June 24th. ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.72.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the business’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 of the company’s stock, valued at $80,798.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

About AT&T

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.

See Also: Outstanding Shares

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

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