Becker Capital Management Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,173,695 shares of the technology company’s stock after buying an additional 27,902 shares during the period. AT&T accounts for 1.6% of Becker Capital Management Inc.’s holdings, making the stock its 22nd biggest holding. Becker Capital Management Inc.’s holdings in AT&T were worth $45,974,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Command Bank increased its stake in AT&T by 67.5% in the second quarter. First Command Bank now owns 79,842 shares of the technology company’s stock valued at $3,012,000 after purchasing an additional 32,163 shares in the last quarter. Stock Yards Bank & Trust Co. increased its stake in AT&T by 1.2% in the second quarter. Stock Yards Bank & Trust Co. now owns 398,848 shares of the technology company’s stock valued at $15,048,000 after purchasing an additional 4,871 shares in the last quarter. Berson & Corrado Investment Advisors LLC increased its stake in AT&T by 4.1% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 99,178 shares of the technology company’s stock valued at $3,742,000 after purchasing an additional 3,912 shares in the last quarter. First Hawaiian Bank increased its stake in AT&T by 197.2% in the second quarter. First Hawaiian Bank now owns 45,673 shares of the technology company’s stock valued at $1,723,000 after purchasing an additional 30,307 shares in the last quarter. Finally, Perkins Coie Trust Co increased its stake in AT&T by 4.9% in the second quarter. Perkins Coie Trust Co now owns 64,082 shares of the technology company’s stock valued at $2,417,000 after purchasing an additional 2,983 shares in the last quarter. 55.76% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the stock. Vetr cut shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 price objective for the company. in a report on Friday, October 6th. Morgan Stanley lifted their price objective on shares of AT&T from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, September 27th. ValuEngine cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. KeyCorp lifted their price objective on shares of AT&T from $35.00 to $38.00 and gave the company a “sector weight” rating in a report on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and a consensus price target of $42.59.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The firm had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. analysts predict that AT&T Inc. will post 2.92 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This is a boost from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.43%. AT&T’s payout ratio is 96.15%.
In related news, Director Matthew K. Rose acquired 29,600 shares of the stock in a transaction on Wednesday, October 25th. The shares were acquired at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the transaction, the director now owns 3,100 shares in the company, valued at approximately $104,625. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.