Parkside Financial Bank & Trust Lowers Position in AT&T Inc. (NYSE:T)

Parkside Financial Bank & Trust cut its holdings in AT&T Inc. (NYSE:T) by 1.3% in the third quarter, Holdings Channel reports. The fund owned 27,625 shares of the technology company’s stock after selling 360 shares during the quarter. Parkside Financial Bank & Trust’s holdings in AT&T were worth $1,045,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its holdings in AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after purchasing an additional 43,525,113 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.2% during 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 acquiring an additional 6,744,699 shares in the last quarter. Morgan Stanley increased its holdings in shares of AT&T by 11.2% during the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after acquiring an additional 5,931,167 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of AT&T by 18.1% during the third quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock valued at $1,060,292,000 after acquiring an additional 4,292,231 shares in the last quarter. Finally, Covenant Multifamily Offices LLC acquired a new position in shares of AT&T during the second quarter valued at about $81,364,000. 52.94% of the stock is owned by institutional investors.

NYSE:T traded down $0.04 during midday trading on Friday, hitting $39.38. The company’s stock had a trading volume of 18,270,257 shares, compared to its average volume of 30,604,307. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $39.58. The firm’s 50 day moving average is $37.87 and its 200-day moving average is $34.45. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.74 and a quick ratio of 0.71. The firm has a market cap of $287.75 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.47 and a beta of 0.64.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The company had revenue of $44.59 billion for the quarter, compared to the consensus estimate of $45.45 billion. During the same quarter in the prior year, the company earned $0.90 EPS. AT&T’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 3.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.51 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.04 annualized dividend and a yield of 5.18%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

Several equities analysts have recently issued reports on the stock. ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. Oppenheimer set a $41.00 price objective on shares of AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. Barclays upped their price objective on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. They noted that the move was a valuation call. Finally, National Bank Financial upped their price objective on shares of AT&T from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. AT&T has a consensus rating of “Hold” and a consensus price target of $40.74.

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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