Empirical Financial Services LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,633 shares of the technology company’s stock after selling 2,450 shares during the quarter. Empirical Financial Services LLC’s holdings in AT&T were worth $573,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Sfmg LLC grew its stake in AT&T by 58.5% in the 3rd quarter. Sfmg LLC now owns 48,102 shares of the technology company’s stock valued at $1,884,000 after buying an additional 17,748 shares during the last quarter. Telos Capital Management Inc. grew its stake in AT&T by 4.8% in the 2nd quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock valued at $2,641,000 after buying an additional 3,197 shares during the last quarter. Welch Investments LLC grew its stake in AT&T by 9.3% in the 2nd quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock valued at $4,122,000 after buying an additional 9,291 shares during the last quarter. Moors & Cabot Inc. grew its stake in AT&T by 11.3% in the 2nd quarter. Moors & Cabot Inc. now owns 247,888 shares of the technology company’s stock valued at $9,373,000 after buying an additional 25,167 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in AT&T by 9.7% in the 2nd quarter. Wedbush Securities Inc. now owns 176,333 shares of the technology company’s stock valued at $6,653,000 after buying an additional 15,562 shares during the last quarter. Institutional investors own 55.39% of the company’s stock.
T has been the topic of a number of research reports. Oppenheimer reiterated a “hold” rating on shares of AT&T in a research note on Wednesday, October 25th. Citigroup increased their target price on shares of AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Deutsche Bank decreased their target price on shares of AT&T from $41.00 to $38.00 and set a “hold” rating on the stock in a research report on Wednesday, October 25th. Finally, Nomura decreased their target price on shares of AT&T to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $41.92.
AT&T (NYSE:T) last issued its quarterly 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 company had revenue of $41.68 billion during the quarter, compared to the consensus estimate of $41.21 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. research analysts forecast that AT&T Inc. will post 3.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.39%. 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 dividend payout ratio is 123.46%.
In related news, CEO John Donovan acquired 27,997 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $35.68 per share, with a total value of $998,932.96. Following the purchase, the chief executive officer now directly owns 179,834 shares in the company, valued at $6,416,477.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Fisher acquired 2,600 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average cost of $38.10 per share, with a total value of $99,060.00. Following the purchase, the director now owns 2,600 shares in the company, valued at $99,060. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.
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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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