KG&L Capital Management LLC Grows Stock Holdings in AT&T Inc. (NYSE:T)

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KG&L Capital Management LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 15.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,467 shares of the technology company’s stock after buying an additional 6,624 shares during the quarter. AT&T comprises about 1.2% of KG&L Capital Management LLC’s holdings, making the stock its 26th largest position. KG&L Capital Management LLC’s holdings in AT&T were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of AT&T during the 4th quarter valued at about $2,928,300,000. Advisor Group Holdings Inc. bought a new position in AT&T during the 1st quarter worth approximately $138,850,000. Nuveen Asset Management LLC grew its position in shares of AT&T by 18.4% during the 4th quarter. Nuveen Asset Management LLC now owns 53,216,205 shares of the technology company’s stock worth $2,079,689,000 after buying an additional 8,261,619 shares during the period. Swiss National Bank grew its position in shares of AT&T by 21.9% during the 1st quarter. Swiss National Bank now owns 30,672,737 shares of the technology company’s stock worth $894,110,000 after buying an additional 5,511,700 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of AT&T by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 109,540,861 shares of the technology company’s stock worth $4,272,292,000 after buying an additional 4,091,166 shares during the period. 53.84% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Geoffrey Y. Yang purchased 6,754 shares of the stock in a transaction dated Friday, April 24th. The stock was 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 directly owns 9,398 shares in the company, valued at approximately $276,207.22. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen J. Luczo purchased 36,000 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were purchased at an average price of $29.38 per share, with a total value of $1,057,680.00. The disclosure for this purchase can be found here. Corporate insiders own 0.07% of the company’s stock.

A number of research firms have recently commented on T. Nomura Securities lowered their target price on AT&T from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. UBS Group lowered their target price on AT&T from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Guggenheim lowered their target price on AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating and set a $33.00 target price on the stock. in a research note on Wednesday, May 27th. Finally, Deutsche Bank lowered their target price on AT&T from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $35.94.

Shares of NYSE:T traded down $0.98 during midday trading on Thursday, hitting $29.49. The company had a trading volume of 16,771,090 shares, compared to its average volume of 39,427,384. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $218.80 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72. The business’s 50-day simple moving average is $30.56 and its 200-day simple moving average is $33.52.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). AT&T had a net margin of 8.05% and a return on equity of 13.27%. The company had revenue of $42.78 billion during the quarter, compared to analyst estimates of $44.75 billion. During the same period in the prior year, the business posted $0.86 EPS. AT&T’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T Inc. will post 3.2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $2.08 annualized dividend and a yield of 7.05%. AT&T’s payout ratio is 58.26%.

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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