Mogy Joel R Investment Counsel Inc. Sells 56,961 Shares of AT&T Inc. (NYSE:T)

Mogy Joel R Investment Counsel Inc. decreased its position in AT&T Inc. (NYSE:TGet Rating) by 90.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,328 shares of the technology company’s stock after selling 56,961 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in AT&T were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. OLD Mission Capital LLC bought a new position in shares of AT&T during the third quarter valued at $453,000. Camden National Bank bought a new position in shares of AT&T during the fourth quarter valued at $278,000. New World Advisors LLC increased its holdings in shares of AT&T by 156.1% during the third quarter. New World Advisors LLC now owns 22,642 shares of the technology company’s stock valued at $577,000 after acquiring an additional 13,800 shares in the last quarter. WBI Investments Inc. bought a new position in shares of AT&T during the third quarter valued at $231,000. Finally, Avidian Wealth Solutions LLC increased its holdings in shares of AT&T by 14.1% during the third quarter. Avidian Wealth Solutions LLC now owns 58,579 shares of the technology company’s stock valued at $1,582,000 after acquiring an additional 7,222 shares in the last quarter. Institutional investors and hedge funds own 53.47% of the company’s stock.

Shares of AT&T stock traded up $0.12 on Friday, reaching $19.84. The company had a trading volume of 33,856,362 shares, compared to its average volume of 67,588,430. The firm’s 50-day moving average price is $21.59 and its two-hundred day moving average price is $23.57. AT&T Inc. has a 1 year low of $16.62 and a 1 year high of $25.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $142.03 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 2.13 and a beta of 0.58.

AT&T (NYSE:TGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The technology company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). AT&T had a net margin of 10.64% and a return on equity of 13.19%. The business had revenue of $38.10 billion for the quarter, compared to analysts’ expectations of $38.29 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. AT&T’s revenue was down 13.2% compared to the same quarter last year. As a group, analysts anticipate that AT&T Inc. will post 2.54 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Thursday, April 14th were given a $0.278 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.60%. The ex-dividend date was Wednesday, April 13th. AT&T’s payout ratio is 46.84%.

Several equities research analysts recently commented on the company. Barclays dropped their price objective on AT&T from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. Wells Fargo & Company dropped their price objective on AT&T from $26.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 14th. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a research report on Monday, April 25th. Deutsche Bank Aktiengesellschaft dropped their target price on AT&T from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, April 11th. Finally, Zacks Investment Research cut AT&T from a “hold” rating to a “strong sell” rating and set a $17.00 target price on the stock. in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.73.

About AT&T (Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

Further Reading

Institutional Ownership by Quarter for AT&T (NYSE:T)

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