Pinnacle Advisory Group Inc. boosted its stake in shares of AT&T Inc. (NYSE:T) by 11.7% during the second quarter, Holdings Channel reports. The institutional investor owned 16,982 shares of the company’s stock after buying an additional 1,773 shares during the period. Pinnacle Advisory Group Inc.’s holdings in AT&T were worth $733,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Prospera Financial Services Inc raised its position in AT&T by 7.0% in the first quarter. Prospera Financial Services Inc now owns 184,036 shares of the company’s stock valued at $7,202,000 after buying an additional 11,979 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its position in AT&T by 4,708.6% in the first quarter. Atalanta Sosnoff Capital LLC now owns 2,667,591 shares of the company’s stock valued at $104,489,000 after buying an additional 2,612,116 shares in the last quarter. Searle & CO. raised its position in AT&T by 2.9% in the first quarter. Searle & CO. now owns 39,339 shares of the company’s stock valued at $1,536,000 after buying an additional 1,110 shares in the last quarter. Moon Capital Management LLC raised its position in AT&T by 28.5% in the first quarter. Moon Capital Management LLC now owns 21,710 shares of the company’s stock valued at $850,000 after buying an additional 4,812 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its position in AT&T by 9.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 371,171 shares of the company’s stock valued at $14,539,000 after buying an additional 32,729 shares in the last quarter. 53.64% of the stock is owned by institutional investors and hedge funds.
Shares of AT&T Inc. (NYSE:T) traded down 0.02% during trading on Friday, reaching $40.72. The company’s stock had a trading volume of 10,825,171 shares. AT&T Inc. has a 1-year low of $32.19 and a 1-year high of $43.89. The company has a market capitalization of $250.51 billion, a PE ratio of 17.56 and a beta of 0.28. The stock has a 50 day moving average of $41.05 and a 200-day moving average of $40.46.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. AT&T had a return on equity of 13.93% and a net margin of 8.76%. On average, analysts expect that AT&T Inc. will post $2.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio is presently 83.12%.
Several research firms recently commented on T. Barclays PLC reiterated a “buy” rating and issued a $45.00 price objective on shares of AT&T in a report on Monday. HSBC upgraded AT&T from a “reduce” rating to a “hold” rating and set a $38.00 price objective for the company in a report on Monday. Vetr downgraded AT&T from a “buy” rating to a “hold” rating and set a $42.92 price objective for the company. in a report on Monday. Jefferies Group reiterated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Thursday, September 15th. Finally, Pacific Crest reiterated a “hold” rating on shares of AT&T in a report on Wednesday, September 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.43.
In other news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is owned by insiders.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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