Old North State Trust LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,165 shares of the technology company’s stock after selling 1,363 shares during the quarter. AT&T makes up 0.7% of Old North State Trust LLC’s holdings, making the stock its 24th largest position. Old North State Trust LLC’s holdings in AT&T were worth $1,154,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Cypress Capital Group boosted its position in AT&T by 11.1% during the second quarter. Cypress Capital Group now owns 166,691 shares of the technology company’s stock worth $5,039,000 after purchasing an additional 16,690 shares in the last quarter. Forte Capital LLC ADV boosted its position in AT&T by 8.1% during the second quarter. Forte Capital LLC ADV now owns 64,780 shares of the technology company’s stock worth $1,946,000 after purchasing an additional 4,872 shares in the last quarter. Cottage Street Advisors LLC purchased a new position in AT&T during the second quarter worth approximately $499,000. Unison Advisors LLC boosted its position in AT&T by 38.0% during the second quarter. Unison Advisors LLC now owns 59,071 shares of the technology company’s stock worth $1,786,000 after purchasing an additional 16,267 shares in the last quarter. Finally, Nadler Financial Group Inc. boosted its position in AT&T by 13.0% during the second quarter. Nadler Financial Group Inc. now owns 32,969 shares of the technology company’s stock worth $997,000 after purchasing an additional 3,787 shares in the last quarter. Institutional investors own 53.84% of the company’s stock.

T traded up $0.38 on Friday, hitting $29.92. 810,817 shares of the company were exchanged, compared to its average volume of 40,009,476. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.70. The company has a market cap of $214.67 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $30.59 and a two-hundred day moving average price of $33.48.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 22nd. The technology company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01). AT&T had a return on equity of 13.27% and a net margin of 8.05%. The company had revenue of $42.78 billion for the quarter, compared to analyst estimates of $44.75 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 3.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.95%. The ex-dividend date is Thursday, July 9th. AT&T’s payout ratio is 58.26%.

T has been the topic of several research reports. Deutsche Bank decreased their target price on AT&T from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. JPMorgan Chase & Co. downgraded AT&T from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $38.00 to $35.00 in a research report on Wednesday, April 1st. Cowen downgraded AT&T from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $43.00 to $37.00 in a research report on Monday, March 23rd. Argus restated a “buy” rating on shares of AT&T in a research report on Friday, March 27th. Finally, Nomura Securities decreased their target price on AT&T from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $35.94.

In other AT&T news, Director Geoffrey Y. Yang bought 6,754 shares of the stock in a transaction dated Friday, April 24th. The shares were acquired at an average cost of $29.39 per share, for a total transaction of $198,500.06. Following the completion of the transaction, the director now owns 9,398 shares in the company, valued at approximately $276,207.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen J. Luczo bought 36,000 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were acquired at an average price of $29.38 per share, for a total transaction of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.

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.

Further Reading: Asset Allocation, Balancing Your Investments

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

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