Monte Financial Group LLC Has $546,000 Holdings in AT&T Inc. (NYSE:T)

Monte Financial Group LLC cut its position in AT&T Inc. (NYSE:T) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,075 shares of the technology company’s stock after selling 698 shares during the quarter. Monte Financial Group LLC’s holdings in AT&T were worth $546,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hotaling Investment Management LLC raised its stake in shares of AT&T by 4.4% in the first quarter. Hotaling Investment Management LLC now owns 23,138 shares of the technology company’s stock worth $674,000 after acquiring an additional 965 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID raised its stake in shares of AT&T by 11.4% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 17,144 shares of the technology company’s stock worth $500,000 after acquiring an additional 1,750 shares during the last quarter. Efficient Wealth Management LLC bought a new position in shares of AT&T in the first quarter worth about $35,000. Grassi Investment Management raised its stake in shares of AT&T by 0.3% in the first quarter. Grassi Investment Management now owns 348,517 shares of the technology company’s stock worth $10,159,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of AT&T by 18.0% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 58,580 shares of the technology company’s stock worth $1,708,000 after buying an additional 8,928 shares during the period. Institutional investors and hedge funds own 53.74% of the company’s stock.

In other AT&T news, Director Stephen J. Luczo acquired 100,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average price of $29.69 per share, with a total value of $2,969,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Several equities research analysts have recently commented on the stock. Deutsche Bank lowered their price target on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday. Nomura lowered their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Barclays reiterated a “hold” rating and set a $33.00 price target on shares of AT&T in a research report on Friday, April 17th. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Bank of America restated a “buy” rating and set a $36.00 price objective on shares of AT&T in a report on Friday, July 24th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.98.

Shares of T stock traded down $0.01 during trading on Thursday, reaching $29.84. The company’s stock had a trading volume of 21,877,061 shares, compared to its average volume of 40,982,473. The business has a fifty day moving average price of $29.93 and a 200-day moving average price of $32.26. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The company has a market cap of $214.30 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth 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.

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

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

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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