D.A. Davidson & CO. boosted its holdings in AT&T Inc. (NYSE:T) by 7.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,592,155 shares of the technology company’s stock after acquiring an additional 109,222 shares during the quarter. AT&T makes up approximately 1.0% of D.A. Davidson & CO.’s holdings, making the stock its 15th biggest holding. D.A. Davidson & CO.’s holdings in AT&T were worth $51,124,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its stake in shares of AT&T by 16.7% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 6,316,152 shares of the technology company’s stock valued at $202,812,000 after purchasing an additional 904,939 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of AT&T by 3.9% during the second quarter. Fiera Capital Corp now owns 95,036 shares of the technology company’s stock valued at $3,052,000 after purchasing an additional 3,605 shares in the last quarter. IndexIQ Advisors LLC boosted its stake in shares of AT&T by 49.8% during the second quarter. IndexIQ Advisors LLC now owns 186,384 shares of the technology company’s stock valued at $5,985,000 after purchasing an additional 61,996 shares in the last quarter. Barrett Asset Management LLC boosted its stake in shares of AT&T by 11.9% during the second quarter. Barrett Asset Management LLC now owns 169,976 shares of the technology company’s stock valued at $5,458,000 after purchasing an additional 18,085 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of AT&T by 7.1% during the second quarter. First Trust Advisors LP now owns 5,949,741 shares of the technology company’s stock valued at $191,046,000 after purchasing an additional 396,579 shares in the last quarter. 64.72% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on T. Barclays set a $33.00 target price on AT&T and gave the stock a “hold” rating in a report on Wednesday, October 10th. Zacks Investment Research downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Deutsche Bank lifted their target price on AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 24th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Finally, ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $37.82.
AT&T (NYSE:T) last announced its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $38.99 billion for the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. AT&T’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. As a group, research analysts predict that AT&T Inc. will post 3.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 6.08%. AT&T’s payout ratio is 65.57%.
In related news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were bought at an average price of $32.48 per share, with a total value of $249,771.20. Following the completion of the transaction, the director now directly owns 31,405 shares in the company, valued at $1,020,034.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew K. Rose bought 65,500 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were bought at an average cost of $30.51 per share, for a total transaction of $1,998,405.00. Following the transaction, the director now owns 81,319 shares of the company’s stock, valued at $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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