Amalgamated Bank Has $27.68 Million Stock Position in AT&T Inc. (NYSE:T)

Amalgamated Bank decreased its position in AT&T Inc. (NYSE:T) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,448,353 shares of the technology company’s stock after selling 25,932 shares during the period. Amalgamated Bank’s holdings in AT&T were worth $27,678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Mercer Global Advisors Inc. ADV lifted its position in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. Kodai Capital Management LP bought a new stake in AT&T during the 4th quarter worth about $152,109,000. Bank of New York Mellon Corp lifted its position in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Point72 Asset Management L.P. lifted its position in AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $21.78 on Wednesday. The company has a 50 day moving average of $19.72 and a 200-day moving average of $18.26. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a market cap of $156.17 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Oppenheimer upped their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.