Perkins Capital Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,062 shares of the company’s stock after selling 1,500 shares during the period. AT&T makes up 1.4% of Perkins Capital Management Inc.’s portfolio, making the stock its 18th largest position. Perkins Capital Management Inc.’s holdings in AT&T were worth $1,213,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its stake in 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. Virginia Retirement System bought a new position in shares of AT&T during the first quarter worth approximately $83,650,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of AT&T by 68.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,067,911 shares of the company’s stock worth $198,510,000 after buying an additional 2,054,571 shares during the last quarter. BlackRock Fund Advisors raised its position 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 last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of AT&T during the first quarter worth approximately $49,432,000. 53.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of AT&T Inc. (NYSE:T) traded up 0.23% on Tuesday, hitting $39.10. 22,314,894 shares of the company traded hands. The firm has a market capitalization of $240.54 billion, a P/E ratio of 16.86 and a beta of 0.30. The firm’s 50-day moving average is $40.52 and its 200 day moving average is $40.53. 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 data 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 net margin of 8.76% and a return on equity of 13.93%. The business had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. On average, analysts anticipate that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio (DPR) is 83.12%.
T has been the topic of a number of research analyst reports. Vetr lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price target on the stock. in a report on Tuesday, June 21st. Buckingham Research lowered shares of AT&T from a “buy” rating to a “neutral” rating and increased their price target for the stock from $30.97 to $39.56 in a report on Friday, June 24th. They noted that the move was a valuation call. Barclays PLC initiated coverage on shares of AT&T in a report on Monday, June 27th. They issued a “buy” rating on the stock. Robert W. Baird reissued a “neutral” rating and issued a $41.00 price target on shares of AT&T in a report on Tuesday, June 28th. Finally, Deutsche Bank AG increased their price target on shares of AT&T from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 28th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus target price of $41.82.
In other AT&T 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 transaction, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company 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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