Loeb Partners Corp lowered its position in AT&T Inc. (NYSE:T) by 3.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 195,558 shares of the company’s stock after selling 6,135 shares during the period. AT&T accounts for about 2.8% of Loeb Partners Corp’s holdings, making the stock its 6th largest position. Loeb Partners Corp’s holdings in AT&T were worth $8,450,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Concorde Asset Management LLC boosted its stake in AT&T by 22.9% in the second quarter. Concorde Asset Management LLC now owns 13,265 shares of the company’s stock worth $573,000 after buying an additional 2,475 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in AT&T by 1.6% in the second quarter. Capital Investment Advisors LLC now owns 267,698 shares of the company’s stock worth $11,567,000 after buying an additional 4,106 shares during the last quarter. Capital City Trust Co. FL boosted its stake in AT&T by 1.4% in the second quarter. Capital City Trust Co. FL now owns 54,300 shares of the company’s stock worth $2,346,000 after buying an additional 724 shares during the last quarter. Orrstown Financial Services Inc. boosted its stake in AT&T by 217.9% in the second quarter. Orrstown Financial Services Inc. now owns 28,969 shares of the company’s stock worth $1,251,000 after buying an additional 19,856 shares during the last quarter. Finally, Lynch & Associates IN boosted 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 worth $2,349,000 after buying an additional 548 shares during the last quarter. 53.64% of the stock is currently owned by institutional investors.
Shares of AT&T Inc. (NYSE:T) traded up 0.36% on Monday, reaching $39.01. 19,020,705 shares of the company traded hands. The firm has a 50-day moving average of $40.52 and a 200-day moving average of $40.53. The company has a market capitalization of $239.99 billion, a PE ratio of 16.82 and a beta of 0.30. AT&T Inc. has a 52-week low of $32.22 and a 52-week high of $43.89.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. On average, equities research analysts forecast that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The business also recently announced 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 annualized dividend and a yield of 4.92%. 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 topic of a number of recent research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 target price on shares of AT&T in a report on Tuesday, June 28th. Citigroup Inc. cut shares of AT&T from a “buy” rating to a “neutral” rating and lifted their target price for the company from $42.00 to $46.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Monday, July 25th. FBR & Co lifted their target price on shares of AT&T from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, July 22nd. Finally, Buckingham Research cut shares of AT&T from a “buy” rating to a “neutral” rating and lifted their target price for the company from $30.97 to $39.56 in a report on Friday, June 24th. 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 fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.82.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction 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 available through this link. 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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