Cedar Capital LLC raised its stake in AT&T Inc. (NYSE:T) by 13.2% during the second quarter, Holdings Channel reports. The fund owned 5,875 shares of the company’s stock after buying an additional 686 shares during the period. Cedar Capital LLC’s holdings in AT&T were worth $254,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Bollard Group LLC boosted its position in shares of AT&T by 1.1% in the second quarter. Bollard Group LLC now owns 451,190 shares of the company’s stock valued at $19,496,000 after buying an additional 4,776 shares in the last quarter. Aviva PLC boosted its position in shares of AT&T by 5.5% in the first quarter. Aviva PLC now owns 4,540,243 shares of the company’s stock valued at $177,841,000 after buying an additional 237,012 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of AT&T by 6.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 811,263 shares of the company’s stock valued at $35,055,000 after buying an additional 47,100 shares in the last quarter. Community Trust & Investment Co. boosted its position in shares of AT&T by 1.8% in the second quarter. Community Trust & Investment Co. now owns 516,263 shares of the company’s stock valued at $22,307,000 after buying an additional 9,126 shares in the last quarter. Finally, Logan Capital Management Inc. boosted its position in shares of AT&T by 0.3% in the first quarter. Logan Capital Management Inc. now owns 736,564 shares of the company’s stock valued at $28,851,000 after buying an additional 2,079 shares in the last quarter. 53.64% of the stock is owned by institutional investors.
Shares of AT&T Inc. (NYSE:T) traded down 0.38% during mid-day trading on Friday, hitting $39.22. The company’s stock had a trading volume of 13,516,996 shares. The company has a market cap of $241.28 billion, a price-to-earnings 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 company has a 50-day moving average of $40.33 and a 200 day moving average of $40.51.
AT&T (NYSE:T) last released its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. On average, analysts expect that AT&T Inc. will post $2.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 4.90%. AT&T’s payout ratio is presently 83.12%.
T has been the subject of several analyst reports. Barclays PLC reaffirmed a “buy” rating on shares of AT&T in a report on Sunday, July 17th. Vetr downgraded AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price for the company. in a report 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 report 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 report 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 report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.86.
In related news, CEO John T. Stankey sold 2,131 shares of the company’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 in the company, valued at $589,230.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
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.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with MarketBeat.com's FREE daily email newsletter.