Neuberger Berman Group LLC reduced its stake in AT&T Inc. (NYSE:T) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 2,786,892 shares of the technology company’s stock after selling 196,024 shares during the period. Neuberger Berman Group LLC’s holdings in AT&T were worth $109,163,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Guardian Capital Advisors LP raised its stake in shares of AT&T by 1.6% in the 3rd quarter. Guardian Capital Advisors LP now owns 215,699 shares of the technology company’s stock valued at $7,666,000 after purchasing an additional 3,293 shares during the period. Griffin Asset Management Inc. raised its stake in shares of AT&T by 3.5% in the 3rd quarter. Griffin Asset Management Inc. now owns 114,398 shares of the technology company’s stock valued at $4,481,000 after purchasing an additional 3,820 shares during the period. Argent Capital Management LLC raised its stake in shares of AT&T by 18.7% in the 3rd quarter. Argent Capital Management LLC now owns 282,458 shares of the technology company’s stock valued at $11,064,000 after purchasing an additional 44,413 shares during the period. Piedmont Investment Advisors LLC raised its stake in shares of AT&T by 7.4% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 1,654,697 shares of the technology company’s stock valued at $64,814,000 after purchasing an additional 114,132 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of AT&T by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 2,102,169 shares of the technology company’s stock valued at $82,342,000 after purchasing an additional 30,020 shares during the period. Hedge funds and other institutional investors own 55.14% of the company’s stock.
Several analysts have issued reports on T shares. Citigroup lifted their price target on AT&T from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Nomura dropped their price target on AT&T to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, November 21st. Vetr downgraded AT&T from a “strong-buy” rating to a “buy” rating and set a $39.67 price target on the stock. in a research note on Wednesday, November 29th. Finally, Standpoint Research started coverage on AT&T in a research note on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price target on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. AT&T presently has a consensus rating of “Hold” and an average target price of $41.92.
AT&T (NYSE:T) last released its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.13. The business had revenue of $41.68 billion for the quarter, compared to the consensus estimate of $41.21 billion. AT&T had a negative return on equity of 3.72% and a negative net margin of 2.72%. AT&T’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. research analysts expect that AT&T Inc. will post 3.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend was Tuesday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.49. AT&T’s payout ratio is 134.23%.
In other AT&T news, Director Richard W. Fisher purchased 2,600 shares of the stock in a transaction on Monday, February 5th. The shares were purchased at an average price of $38.10 per share, with a total value of $99,060.00. Following the completion of the transaction, the director now directly owns 2,600 shares in the company, valued at $99,060. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John T. Stankey sold 2,307 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $39.21, for a total value of $90,457.47. Following the transaction, the executive vice president now directly owns 51,672 shares in the company, valued at approximately $2,026,059.12. The disclosure for this sale can be found here. 0.09% of the stock is 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.