Meritage Portfolio Management decreased its stake in AT&T Inc. (NYSE:T) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,094 shares of the company’s stock after selling 9,335 shares during the period. AT&T comprises about 0.8% of Meritage Portfolio Management’s portfolio, making the stock its 28th largest position. Meritage Portfolio Management’s holdings in AT&T were worth $7,522,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lynch & Associates IN increased its stake in AT&T by 1.0% in the second quarter. Lynch & Associates IN now owns 54,359 shares of the company’s stock valued at $2,349,000 after buying an additional 548 shares during the period. Sadoff Investment Management LLC increased its stake in AT&T by 0.4% in the second quarter. Sadoff Investment Management LLC now owns 245,146 shares of the company’s stock valued at $10,593,000 after buying an additional 1,089 shares during the period. Evanson Asset Management LLC increased its stake in AT&T by 33.1% in the second quarter. Evanson Asset Management LLC now owns 17,604 shares of the company’s stock valued at $761,000 after buying an additional 4,380 shares during the period. Howard Capital Management increased its stake in AT&T by 35.2% in the second quarter. Howard Capital Management now owns 30,749 shares of the company’s stock valued at $1,329,000 after buying an additional 8,000 shares during the period. Finally, TNB Financial increased its stake in AT&T by 4.9% in the second quarter. TNB Financial now owns 85,217 shares of the company’s stock valued at $3,681,000 after buying an additional 3,978 shares during the period. 53.64% of the stock is owned by institutional investors.
Shares of AT&T Inc. (NYSE:T) traded down 0.61% on Friday, reaching $38.87. The company’s stock had a trading volume of 19,171,955 shares. The company has a market capitalization of $239.13 billion, a price-to-earnings ratio of 16.76 and a beta of 0.30. The stock has a 50-day moving average price of $40.58 and a 200-day moving average price of $40.51. AT&T Inc. has a 1-year low of $32.22 and a 1-year 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The company 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, equities research analysts forecast that AT&T Inc. will post $2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio is currently 83.12%.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded 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. Jefferies Group reiterated a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. S&P Equity Research set a $46.00 target price on AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Robert W. Baird reiterated a “neutral” rating and set a $41.00 target price on shares of AT&T in a research report on Monday, July 25th. Finally, Citigroup Inc. downgraded AT&T from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $42.00 to $46.00 in a research report on Thursday, July 7th. They noted that the move was a valuation call. Three 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. AT&T currently has an average rating of “Hold” and a consensus target price of $41.57.
In other 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 sale, the chief executive officer now owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.
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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