Bank of Montreal Can Sells 159,101 Shares of AT&T Inc. (T)

Bank of Montreal Can decreased its stake in AT&T Inc. (NYSE:T) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 9,171,320 shares of the technology company’s stock after selling 159,101 shares during the period. Bank of Montreal Can’s holdings in AT&T were worth $261,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Mackey Komara & Dankovich LLC acquired a new stake in AT&T in the 4th quarter valued at approximately $76,000. New Capital Management LP increased its position in AT&T by 234.6% in the 4th quarter. New Capital Management LP now owns 3,349 shares of the technology company’s stock valued at $96,000 after acquiring an additional 2,348 shares during the period. Chessman Wealth Strategies RIA acquired a new stake in AT&T in the 3rd quarter valued at approximately $114,000. Stelac Advisory Services LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $121,000. Finally, Hoertkorn Richard Charles increased its position in AT&T by 66.7% in the 3rd quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after acquiring an additional 2,000 shares during the period. 64.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of T stock opened at $32.25 on Wednesday. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $35.76. The firm has a market cap of $197.68 billion, a PE ratio of 9.16, a PEG ratio of 1.36 and a beta of 0.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.80 and a current ratio of 0.80.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The company had revenue of $47.99 billion for the quarter, compared to analysts’ expectations of $48.50 billion. During the same period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 3.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 57.95%.

Several analysts recently commented on the company. Desjardins restated an “average” rating and issued a $56.50 target price on shares of AT&T in a research report on Friday, April 5th. Barclays set a $32.00 price target on AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Cowen reiterated a “buy” rating and set a $35.00 price target on shares of AT&T in a research report on Thursday, January 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.26.

In related news, CEO John T. Stankey sold 3,748 shares of AT&T stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

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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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