AT&T Inc. (NYSE:T) Shares Purchased by Landsberg Bennett & Dubbaneh LLC

Landsberg Bennett & Dubbaneh LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,083 shares of the technology company’s stock after acquiring an additional 1,315 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in AT&T were worth $1,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of T. Nuveen Asset Management LLC increased its holdings in shares of AT&T by 1,723.1% during the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock valued at $1,543,169,000 after acquiring an additional 43,525,113 shares in the last quarter. Vanguard Group Inc. boosted its position in AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after buying an additional 6,744,699 shares during the last quarter. Morgan Stanley boosted its position in AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after buying an additional 5,931,167 shares during the last quarter. Nordea Investment Management AB boosted its position in AT&T by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after buying an additional 3,097,958 shares during the last quarter. Finally, Covenant Multifamily Offices LLC purchased a new stake in AT&T in the second quarter valued at approximately $81,364,000. Hedge funds and other institutional investors own 53.02% of the company’s stock.

In other news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the transaction, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.

Several equities research analysts have commented on the company. Citigroup upped their price objective on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective on the stock in a research report on Thursday, July 25th. Desjardins restated an “average” rating and issued a $55.50 price objective on shares of AT&T in a research report on Tuesday, August 6th. Morgan Stanley set a $37.00 price objective on AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Raymond James restated an “outperform” rating and issued a $40.00 price objective (up previously from $35.00) on shares of AT&T in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $38.43.

Shares of NYSE:T opened at $37.58 on Friday. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $38.75. The firm has a market capitalization of $274.60 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50 day moving average price is $36.72 and its 200-day moving average price is $33.57.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 3.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.43%. AT&T’s dividend payout ratio (DPR) is 57.95%.

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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