Howland Capital Management LLC Decreases Stake in AT&T Inc. (T)

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Howland Capital Management LLC reduced its holdings in AT&T Inc. (NYSE:T) by 22.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,167 shares of the technology company’s stock after selling 7,749 shares during the period. Howland Capital Management LLC’s holdings in AT&T were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Monarch Capital Management Inc. increased its position in AT&T by 9.2% during the fourth quarter. Monarch Capital Management Inc. now owns 94,497 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 7,963 shares during the last quarter. Suffolk Capital Management LLC increased its position in AT&T by 3,450.1% during the fourth quarter. Suffolk Capital Management LLC now owns 367,118 shares of the technology company’s stock worth $10,478,000 after purchasing an additional 356,777 shares during the last quarter. Boenning & Scattergood Inc. increased its position in AT&T by 7.2% during the fourth quarter. Boenning & Scattergood Inc. now owns 173,806 shares of the technology company’s stock worth $4,960,000 after purchasing an additional 11,693 shares during the last quarter. QV Investors Inc. increased its position in AT&T by 28.9% during the fourth quarter. QV Investors Inc. now owns 3,684,706 shares of the technology company’s stock worth $105,161,000 after purchasing an additional 826,700 shares during the last quarter. Finally, Midas Management Corp increased its position in AT&T by 25.2% during the fourth quarter. Midas Management Corp now owns 72,000 shares of the technology company’s stock worth $2,055,000 after purchasing an additional 14,500 shares during the last quarter. 64.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of T opened at $32.03 on Friday. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $35.33. The stock has a market cap of $196.63 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 1.35 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.86.

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

The firm also recently disclosed 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 6.37%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 57.95%.

Several equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Barclays set a $32.00 price objective on shares of AT&T and gave the stock a “hold” rating in a research report on Friday, January 18th. Desjardins restated an “average” rating and set a $56.50 price objective on shares of AT&T in a research report on Friday, April 5th. Cowen restated a “buy” rating and set a $35.00 price objective on shares of AT&T in a research report on Thursday, January 31st. Finally, Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. AT&T has a consensus rating of “Hold” and a consensus price target of $36.26.

In related news, CEO John T. Stankey sold 3,748 shares of AT&T stock in a transaction that occurred on Thursday, January 31st. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. 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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