Roosevelt Investment Group LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 8.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,912 shares of the technology company’s stock after buying an additional 4,683 shares during the quarter. Roosevelt Investment Group LLC’s holdings in AT&T were worth $1,753,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in AT&T by 3.4% during the second quarter. BlackRock Inc. now owns 508,851,017 shares of the technology company’s stock worth $14,644,734,000 after acquiring an additional 16,734,100 shares during the last quarter. Geode Capital Management LLC increased its stake in AT&T by 2.9% during the first quarter. Geode Capital Management LLC now owns 115,702,320 shares of the technology company’s stock worth $3,492,776,000 after acquiring an additional 3,240,700 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of AT&T by 9.5% in the first quarter. Nordea Investment Management AB now owns 28,671,144 shares of the technology company’s stock valued at $871,890,000 after buying an additional 2,486,443 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of AT&T by 3.2% in the first quarter. UBS Asset Management Americas Inc. now owns 28,242,777 shares of the technology company’s stock valued at $854,909,000 after buying an additional 874,730 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of AT&T by 119.8% in the first quarter. Franklin Resources Inc. now owns 27,173,122 shares of the technology company’s stock valued at $822,532,000 after buying an additional 14,811,593 shares in the last quarter. Hedge funds and other institutional investors own 51.61% of the company’s stock.
A number of equities research analysts have recently weighed in on T shares. Tigress Financial reaffirmed a “buy” rating and issued a $36.00 price objective on shares of AT&T in a research note on Friday, July 9th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, July 26th. Argus downgraded AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target for the company. in a report on Tuesday, July 27th. Royal Bank of Canada initiated coverage on AT&T in a report on Thursday, July 22nd. They set a “hold” rating and a $30.00 price target for the company. Finally, Citigroup decreased their price target on AT&T from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, August 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.10.
AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The firm had revenue of $44.05 billion during the quarter, compared to the consensus estimate of $42.39 billion. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 3.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, July 8th. This represents a $2.08 annualized dividend and a yield of 7.68%. AT&T’s dividend payout ratio is currently 65.41%.
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
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