Gabelli Funds LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 24.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 965,176 shares of the company’s stock after selling 319,500 shares during the period. Gabelli Funds LLC’s holdings in AT&T were worth $41,705,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Emerald Acquisition Ltd. acquired a new stake in shares of AT&T during the second quarter worth about $387,606,000. Acadian Asset Management LLC raised its stake in shares of AT&T by 59.8% in the first quarter. Acadian Asset Management LLC now owns 10,456,380 shares of the company’s stock worth $409,578,000 after buying an additional 3,914,151 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of AT&T by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 24,011,256 shares of the company’s stock worth $940,521,000 after buying an additional 2,733,411 shares during the period. Swedbank purchased a new stake in shares of AT&T during the second quarter worth $104,188,000. Finally, American Century Companies Inc. raised its stake in shares of AT&T by 34.6% in the second quarter. American Century Companies Inc. now owns 8,346,666 shares of the company’s stock worth $360,659,000 after buying an additional 2,146,128 shares during the period. 53.64% of the stock is owned by institutional investors and hedge funds.
Shares of AT&T Inc. (NYSE:T) traded up 0.39% during trading on Monday, hitting $40.77. The stock had a trading volume of 11,011,814 shares. The stock has a market cap of $250.82 billion, a price-to-earnings ratio of 17.58 and a beta of 0.30. The stock’s 50-day moving average is $40.97 and its 200-day moving average is $40.48. AT&T Inc. has a 12-month low of $32.22 and a 12-month high of $43.89.
AT&T (NYSE:T) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The company had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. On average, equities research analysts expect that AT&T Inc. will post $2.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders 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 yield of 4.73%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio is presently 83.12%.
T has been the subject of a number of research analyst reports. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, July 5th. Deutsche Bank AG lifted their target price on AT&T from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, June 28th. Barclays PLC initiated coverage on AT&T in a research report on Monday, June 27th. They set a “buy” rating for the company. Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a research report on Sunday, June 5th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.62.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the transaction, the chief executive officer now owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.07% of the stock is owned by company 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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