Strategic Global Advisors LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 217.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 23,888 shares of the technology company’s stock after purchasing an additional 16,355 shares during the period. Strategic Global Advisors LLC’s holdings in AT&T were worth $936,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of AT&T during the 2nd quarter valued at about $314,000. New Capital Management LP grew its position in shares of AT&T by 130.9% during the 3rd quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after acquiring an additional 1,500 shares during the period. Financial Engines Advisors L.L.C. acquired a new stake in shares of AT&T during the 3rd quarter valued at about $104,000. Macroview Investment Management LLC grew its position in shares of AT&T by 144.3% during the 3rd quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,595 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of AT&T during the 2nd quarter valued at about $134,000. 55.39% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. SunTrust Banks raised their price target on shares of AT&T from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. ValuEngine lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Vetr lowered shares of 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. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 price target on shares of AT&T in a research note on Friday, November 10th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of AT&T in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus 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 for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.13. AT&T had a net margin of 18.34% and a return on equity of 14.55%. The business had revenue of $41.68 billion for the quarter, compared to analyst estimates of $41.21 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was down .4% on a year-over-year basis. sell-side analysts predict that AT&T Inc. will post 3.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.39%. This is a positive change from AT&T’s previous quarterly dividend of $0.49. The ex-dividend date was Tuesday, January 9th. AT&T’s dividend payout ratio (DPR) is 123.46%.
In other AT&T news, EVP John T. Stankey sold 2,307 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 of the company’s stock, valued at approximately $2,026,059.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard W. Fisher bought 2,600 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was acquired at an average cost of $38.10 per share, for a total transaction of $99,060.00. Following the completion of the purchase, the director now directly owns 2,600 shares in the company, valued at $99,060. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
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.
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