Fortaleza Asset Management Inc. reduced its position in AT&T Inc. (NYSE:T) by 22.9% during the second quarter, Holdings Channel reports. The institutional investor owned 55,430 shares of the company’s stock after selling 16,430 shares during the period. AT&T accounts for about 2.0% of Fortaleza Asset Management Inc.’s holdings, making the stock its 13th largest position. Fortaleza Asset Management Inc.’s holdings in AT&T were worth $2,395,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of AT&T by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 162,390,830 shares of the company’s stock worth $6,360,849,000 after buying an additional 656,641 shares during the period. BlackRock Fund Advisors increased its stake in shares of AT&T by 1.8% in the first quarter. BlackRock Fund Advisors now owns 79,579,666 shares of the company’s stock worth $3,117,136,000 after buying an additional 1,417,502 shares during the period. Geode Capital Management LLC increased its stake in shares of AT&T by 1.9% in the first quarter. Geode Capital Management LLC now owns 51,931,393 shares of the company’s stock worth $2,030,190,000 after buying an additional 971,072 shares during the period. Nordea Investment Management AB increased its stake in shares of AT&T by 2.5% in the second quarter. Nordea Investment Management AB now owns 25,459,807 shares of the company’s stock worth $1,100,118,000 after buying an additional 623,365 shares during the period. Finally, TIAA CREF Investment Management LLC increased 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. Institutional investors own 53.64% of the company’s stock.
AT&T Inc. (NYSE:T) traded down 0.64% during trading on Friday, hitting $38.86. The company’s stock had a trading volume of 8,697,152 shares. The firm has a market cap of $239.07 billion, a PE ratio of 16.76 and a beta of 0.30. AT&T Inc. has a one year low of $32.22 and a one year high of $43.89. The company has a 50-day moving average of $40.65 and a 200 day moving average of $40.51.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The firm earned $40.50 billion during the quarter, compared to the consensus estimate of $40.75 billion. AT&T had a net margin of 8.76% and a return on equity of 13.93%. On average, equities analysts forecast that AT&T Inc. will post $2.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.91%. AT&T’s payout ratio is currently 83.12%.
A number of research analysts have recently commented on T shares. Barclays PLC reaffirmed a “buy” rating on shares of AT&T in a research note on Sunday, July 17th. Vetr cut AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price on the stock. in a research note on Tuesday, June 21st. S&P Equity Research set a $46.00 target price on AT&T and gave the company a “buy” rating in a research note on Sunday, July 24th. FBR & Co upped their target price on AT&T from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, July 22nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $41.00 target price on shares of AT&T in a research note on Tuesday, June 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.57.
In related news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the transaction, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.
AT&T Company Profile
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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