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

Amalgamated Bank trimmed its stake in AT&T Inc. (NYSE:T) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,448,353 shares of the technology company’s stock after selling 25,932 shares during the quarter. Amalgamated Bank’s holdings in AT&T were worth $27,678,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. grew its holdings in AT&T by 6.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 130,635 shares of the technology company’s stock worth $2,496,000 after purchasing an additional 7,981 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in shares of AT&T by 1.9% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 31,101 shares of the technology company’s stock valued at $594,000 after buying an additional 570 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of AT&T by 3.9% during the second quarter. Mutual of America Capital Management LLC now owns 1,059,057 shares of the technology company’s stock valued at $20,239,000 after buying an additional 39,684 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of AT&T by 13.1% during the second quarter. Axxcess Wealth Management LLC now owns 310,461 shares of the technology company’s stock valued at $5,933,000 after buying an additional 36,066 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Oppenheimer raised their price target on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective 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. Evercore ISI lifted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.31.

AT&T Price Performance

T stock opened at $21.78 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a one year low of $14.12 and a one year high of $22.34. The stock has a market cap of $156.17 billion, a PE ratio of 11.71, a P/E/G ratio of 3.68 and a beta of 0.59. The firm has a 50 day simple moving average of $19.72 and a two-hundred day simple moving average of $18.26.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

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

AT&T Company Profile

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.