Arkfeld Wealth Strategies L.L.C. Cuts Holdings in AT&T Inc. (NYSE:T)

Arkfeld Wealth Strategies L.L.C. lowered its stake in AT&T Inc. (NYSE:T) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,795 shares of the technology company’s stock after selling 664 shares during the period. AT&T accounts for approximately 5.2% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 6th biggest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in AT&T were worth $4,649,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in AT&T by 1.5% during the first quarter. Geode Capital Management LLC now owns 111,210,654 shares of the technology company’s stock valued at $3,235,792,000 after buying an additional 1,669,793 shares during the period. Legal & General Group Plc lifted its position in AT&T by 2.9% during the first quarter. Legal & General Group Plc now owns 47,477,604 shares of the technology company’s stock valued at $1,385,953,000 after buying an additional 1,345,096 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in AT&T by 7.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,960,127 shares of the technology company’s stock valued at $886,887,000 after buying an additional 2,046,164 shares during the period. Swiss National Bank lifted its position in AT&T by 21.9% during the first quarter. Swiss National Bank now owns 30,672,737 shares of the technology company’s stock valued at $894,110,000 after buying an additional 5,511,700 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in AT&T by 3.8% during the first quarter. Parametric Portfolio Associates LLC now owns 25,895,174 shares of the technology company’s stock valued at $754,844,000 after buying an additional 943,196 shares during the period. Institutional investors and hedge funds own 53.74% of the company’s stock.

Several equities analysts have commented on T shares. Credit Suisse Group lowered their price objective on AT&T from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Deutsche Bank lowered their price target on AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday. ValuEngine lowered AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Oppenheimer lowered their price target on AT&T from $47.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Finally, Cfra lowered their price target on AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $34.98.

Shares of AT&T stock traded down $0.01 during trading hours on Thursday, reaching $29.84. 21,877,061 shares of the stock traded hands, compared to its average volume of 40,982,473. The company has a 50 day moving average price of $29.93 and a 200 day moving average price of $32.26. The firm has a market capitalization of $214.30 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.69 and a beta of 0.71. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.79.

AT&T (NYSE:T) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.04. The business had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. Sell-side analysts anticipate that AT&T Inc. will post 3.21 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.97%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.

In related news, Director Stephen J. Luczo acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was bought at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.

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

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