AT&T Inc. (NYSE:T) Shares Sold by Renaissance Investment Consultants Holding Company LLC

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Renaissance Investment Consultants Holding Company LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 24.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,752 shares of the technology company’s stock after selling 3,102 shares during the quarter. Renaissance Investment Consultants Holding Company LLC’s holdings in AT&T were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cubist Systematic Strategies LLC raised its stake in shares of AT&T by 417.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 19,992 shares of the technology company’s stock worth $781,000 after buying an additional 16,125 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in AT&T by 17.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,231 shares of the technology company’s stock valued at $356,000 after buying an additional 1,800 shares in the last quarter. Stillwater Investment Management LLC grew its holdings in AT&T by 11.1% during the first quarter. Stillwater Investment Management LLC now owns 11,848 shares of the technology company’s stock worth $345,000 after acquiring an additional 1,186 shares during the period. IMS Capital Management raised its position in AT&T by 65.6% in the first quarter. IMS Capital Management now owns 31,122 shares of the technology company’s stock worth $907,000 after acquiring an additional 12,326 shares in the last quarter. Finally, Wiley BROS. Aintree Capital LLC lifted its holdings in AT&T by 55.6% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 18,674 shares of the technology company’s stock valued at $544,000 after acquiring an additional 6,670 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Several research firms have recently weighed in on T. SunTrust Banks reduced their price objective on shares of AT&T from $36.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 3rd. Cfra reduced their price objective on shares of AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. ValuEngine lowered shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Oppenheimer reduced their price objective on shares of 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, Nomura reduced their price objective 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. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.29.

Shares of NYSE T traded up $0.01 during mid-day trading on Friday, reaching $29.58. The company had a trading volume of 38,694,208 shares, compared to its average volume of 32,539,284. The stock has a fifty day moving average of $30.01 and a two-hundred day moving average of $32.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $212.40 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.67 and a beta of 0.72. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70.

AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm 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 company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 3.2 earnings per share for the current fiscal 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Thursday, July 9th. AT&T’s payout ratio is presently 58.26%.

In other AT&T news, Director Stephen J. Luczo acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were purchased at an average price of $29.69 per share, with a total value of $2,969,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

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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