Highstreet Asset Management Inc. increased its stake in AT&T Inc. (NYSE:T) by 327.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,759 shares of the company’s stock after buying an additional 35,817 shares during the period. Highstreet Asset Management Inc.’s holdings in AT&T were worth $2,020,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in 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 last quarter. Swedbank acquired a new stake in AT&T during the second quarter worth about $104,188,000. Virginia Retirement System acquired a new stake in AT&T during the first quarter worth about $83,650,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in 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. Finally, BlackRock Fund Advisors raised its stake in 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. 53.62% of the stock is owned by institutional investors and hedge funds.
AT&T Inc. (NYSE:T) traded up 0.13% during mid-day trading on Monday, reaching $39.27. 13,885,020 shares of the company’s stock were exchanged. AT&T Inc. has a 12 month low of $32.22 and a 12 month high of $43.89. The stock has a 50-day moving average of $40.29 and a 200-day moving average of $40.53. The firm has a market cap of $241.59 billion, a price-to-earnings ratio of 16.93 and a beta of 0.30.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. Analysts anticipate that AT&T Inc. will post $2.86 earnings per share for the current 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 given a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s payout ratio is presently 83.12%.
A number of research firms have recently issued reports on T. Barclays PLC restated a “buy” rating on shares of AT&T in a report on Sunday, July 17th. Vetr lowered 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. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a report on Monday. Finally, FBR & Co increased 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. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average 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 the stock in a transaction that occurred 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 approximately $589,230.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.
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