Mackay Shields LLC reduced its holdings in AT&T Inc. (NYSE:T) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,546,391 shares of the technology company’s stock after selling 122,747 shares during the period. Mackay Shields LLC’s holdings in AT&T were worth $60,433,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JJJ Advisors Inc. bought a new position in shares of AT&T in the 3rd quarter valued at about $27,000. TFO TDC LLC acquired a new stake in AT&T in the 4th quarter worth about $27,000. Evolution Wealth Advisors LLC acquired a new stake in AT&T in the 4th quarter worth about $41,000. Bourgeon Capital Management LLC acquired a new stake in AT&T in the 3rd quarter worth about $45,000. Finally, Litman Gregory Asset Management LLC raised its stake in AT&T by 229.1% in the 4th quarter. Litman Gregory Asset Management LLC now owns 1,175 shares of the technology company’s stock worth $46,000 after purchasing an additional 818 shares in the last quarter. Hedge funds and other institutional investors own 54.14% of the company’s stock.

T traded down $0.51 during trading on Friday, reaching $35.22. 120,886,445 shares of the company’s stock were exchanged, compared to its average volume of 35,916,883. AT&T Inc. has a one year low of $29.67 and a one year high of $39.70. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $252.63 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.63. The firm has a fifty day moving average price of $38.14 and a two-hundred day moving average price of $37.71.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. AT&T had a net margin of 7.67% and a return on equity of 13.37%. The firm had revenue of $46.82 billion for the quarter, compared to analyst estimates of $47.06 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 3.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.91%. This is a positive change from AT&T’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, January 9th. AT&T’s payout ratio is presently 58.26%.

In other AT&T news, Director Stephen J. Luczo bought 100,000 shares of AT&T stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $37.81 per share, with a total value of $3,781,000.00. Insiders own 0.07% of the company’s stock.

Several brokerages have recently commented on T. Moffett Nathanson cut shares of AT&T from a “neutral” rating to a “sell” rating and set a $30.00 target price for the company. in a research report on Tuesday, November 19th. UBS Group upped their price objective on shares of AT&T from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Tigress Financial reiterated a “buy” rating on shares of AT&T in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.03.

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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