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Oppenheimer & Co. Inc. Trims Stock Holdings in AT&T Inc. $T
Oppenheimer & Co. Inc. has reduced its stake in AT&T Inc. (NYSE:T) by 12.5% during the third quarter, selling over 109,000 shares but still holding over 762,000 shares valued at $21.54 million. Despite the trim by Oppenheimer, institutional investors and hedge funds own 57.10% of AT&T stock, and analysts maintain a “Moderate Buy” rating with a consensus target price of $29.83. AT&T recently reported strong quarterly earnings, beating EPS estimates, and announced a quarterly dividend.