Sterneck Capital Management LLC Raises Stock Holdings in AT&T Inc. (NYSE:T)

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Sterneck Capital Management LLC boosted its holdings in AT&T Inc. (NYSE:T) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,115 shares of the technology company’s stock after buying an additional 2,810 shares during the quarter. Sterneck Capital Management LLC’s holdings in AT&T were worth $317,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. NWK Group Inc. bought a new stake in shares of AT&T during the 2nd quarter valued at about $65,000. JJJ Advisors Inc. grew its stake in shares of AT&T by 212.3% during the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the period. Provident Wealth Management LLC bought a new stake in shares of AT&T during the 3rd quarter valued at about $70,000. Litman Gregory Asset Management LLC grew its stake in shares of AT&T by 844.0% during the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,667 shares during the period. Finally, Alpha Windward LLC grew its stake in shares of AT&T by 15.0% during the 2nd quarter. Alpha Windward LLC now owns 3,609 shares of the technology company’s stock valued at $109,000 after purchasing an additional 472 shares during the period. 52.29% of the stock is owned by institutional investors and hedge funds.

In other news, Director Stephen J. Luczo purchased 100,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average price of $29.69 per share, with a total value of $2,969,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.

T has been the subject of a number of recent research reports. Oppenheimer restated a “buy” rating and set a $38.00 price target on shares of AT&T in a research note on Thursday, October 1st. Bank of America reiterated a “buy” rating and set a $36.00 price objective on shares of AT&T in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Barclays assumed coverage on AT&T in a research note on Friday, October 2nd. They set an “overweight” rating for the company. Finally, KeyCorp downgraded AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Monday, October 5th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.56.

T opened at $27.33 on Friday. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The business’s fifty day simple moving average is $28.84 and its 200-day simple moving average is $29.74. The company has a market capitalization of $194.73 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.64 and a beta of 0.69.

AT&T (NYSE:T) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The business had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The business’s revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 3.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s payout ratio is 58.26%.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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