Whitener Capital Management Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,528 shares of the technology company’s stock after purchasing an additional 4,780 shares during the quarter. Whitener Capital Management Inc.’s holdings in AT&T were worth $1,425,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in T. Holderness Investments Co. increased its position in AT&T by 1.4% in the 2nd quarter. Holderness Investments Co. now owns 105,785 shares of the technology company’s stock valued at $3,545,000 after acquiring an additional 1,445 shares in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. increased its position in AT&T by 14.0% in the 2nd quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 275,321 shares of the technology company’s stock valued at $9,226,000 after acquiring an additional 33,770 shares in the last quarter. Pettyjohn Wood & White Inc. increased its position in AT&T by 11.7% in the 2nd quarter. Pettyjohn Wood & White Inc. now owns 85,160 shares of the technology company’s stock valued at $2,854,000 after acquiring an additional 8,887 shares in the last quarter. Bingham Osborn & Scarborough LLC increased its position in AT&T by 29.2% in the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 29,806 shares of the technology company’s stock valued at $999,000 after acquiring an additional 6,741 shares in the last quarter. Finally, BHK Investment Advisors LLC increased its position in AT&T by 22.5% in the 2nd quarter. BHK Investment Advisors LLC now owns 30,064 shares of the technology company’s stock valued at $1,007,000 after acquiring an additional 5,526 shares in the last quarter. Institutional investors and hedge funds own 52.63% of the company’s stock.

In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.

Several research firms have weighed in on T. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. Cowen raised 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. Raymond James raised their price objective on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley restated a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research report on Thursday, August 1st. Finally, Desjardins restated an “average” rating and issued a $55.50 price objective on shares of AT&T in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $36.72.

Shares of NYSE T traded up $0.04 during mid-day trading on Wednesday, hitting $35.02. The company’s stock had a trading volume of 3,378,766 shares, compared to its average volume of 34,435,740. The stock has a market cap of $255.53 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth 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 Inc. has a one year low of $26.80 and a one year high of $35.44. The company’s fifty day simple moving average is $33.95 and its 200-day simple moving average is $31.95.

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

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

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.

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

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