Quadrant Capital Management LLC acquired a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,675 shares of the company’s stock, valued at approximately $332,000.
A number of other hedge funds have also recently made changes to their positions in the company. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of AT&T by 3.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 61,028 shares of the company’s stock valued at $2,390,000 after buying an additional 1,973 shares in the last quarter. Acropolis Investment Management LLC boosted its stake in shares of AT&T by 8.3% in the first quarter. Acropolis Investment Management LLC now owns 12,365 shares of the company’s stock valued at $428,000 after buying an additional 945 shares in the last quarter. North Star Investment Management Corp. boosted its stake in shares of AT&T by 0.4% in the first quarter. North Star Investment Management Corp. now owns 111,081 shares of the company’s stock valued at $4,351,000 after buying an additional 389 shares in the last quarter. Delta Asset Management LLC TN boosted its stake in shares of AT&T by 1.1% in the first quarter. Delta Asset Management LLC TN now owns 116,602 shares of the company’s stock valued at $4,567,000 after buying an additional 1,243 shares in the last quarter. Finally, Douglas Lane & Associates LLC purchased a new stake in shares of AT&T during the first quarter valued at $1,767,000. 53.64% of the stock is owned by hedge funds and other institutional investors.
AT&T Inc. (NYSE:T) traded down 0.38% during midday trading on Friday, hitting $39.22. The stock had a trading volume of 13,516,996 shares. The stock has a market capitalization of $241.28 billion, a PE ratio of 16.91 and a beta of 0.30. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89. The stock’s 50-day moving average is $40.33 and its 200-day moving average is $40.51.
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 Zacks’ consensus estimate of $0.72. The business earned $40.50 billion during the quarter, compared to the consensus estimate 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 anticipate that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 4.90%. AT&T’s payout ratio is currently 83.12%.
Several brokerages have weighed in on T. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, July 5th. Jefferies Group reissued a “buy” rating on shares of AT&T in a report on Wednesday, August 3rd. S&P Equity Research set a $46.00 price target on AT&T and gave the company a “buy” rating in a research note on Sunday, July 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price target on shares of AT&T in a research note on Monday, July 25th. Finally, Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and upped their price target for the company from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $41.86.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 13,583 shares in the company, valued at $589,230.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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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