Quest Capital Management Inc. ADV lowered its position in shares of AT&T Inc. (NYSE:T) by 99.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,702 shares of the technology company’s stock after selling 3,878,446 shares during the quarter. Quest Capital Management Inc. ADV’s holdings in AT&T were worth $962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in T. Kavar Capital Partners LLC increased its stake in AT&T by 3.0% during the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 2,914 shares in the last quarter. Investment Partners LTD. boosted its holdings in shares of AT&T by 36.5% during the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after acquiring an additional 8,892 shares during the last quarter. JGP Wealth Management LLC boosted its holdings in shares of AT&T by 2.7% during the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after acquiring an additional 3,373 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in shares of AT&T by 12.8% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 156,190 shares of the technology company’s stock valued at $5,234,000 after acquiring an additional 17,734 shares during the last quarter. Finally, Nicolet Bankshares Inc. boosted its holdings in shares of AT&T by 2.3% during the 2nd quarter. Nicolet Bankshares Inc. now owns 14,970 shares of the technology company’s stock valued at $502,000 after acquiring an additional 340 shares during the last quarter. 52.63% of the stock is owned by institutional investors and hedge funds.

Shares of T traded up $0.17 on Thursday, reaching $35.33. The company’s stock had a trading volume of 1,310,517 shares, compared to its average volume of 33,966,472. 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 12-month low of $26.80 and a 12-month high of $35.44. The stock has a market capitalization of $258.52 billion, a P/E ratio of 10.04, a PEG ratio of 2.22 and a beta of 0.62. The stock’s 50 day simple moving average is $33.98 and its two-hundred day simple moving average is $31.98.

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

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.77%. The ex-dividend date was Tuesday, July 9th. AT&T’s dividend payout ratio is currently 57.95%.

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

A number of analysts have recently issued reports on T shares. ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Desjardins reaffirmed an “average” rating and set a $55.50 price target on shares of AT&T in a report on Tuesday, August 6th. Bank of America reaffirmed a “buy” rating and set a $37.00 price target on shares of AT&T in a report on Monday, June 24th. Cowen raised their price target on shares of AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $37.00 price target on shares of AT&T in a report on Thursday, August 1st. One investment 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. The company presently has an average rating of “Buy” and an average target price of $36.72.

AT&T Company 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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