Wintrust Investments LLC increased its holdings in AT&T Inc. (NYSE:T) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,395 shares of the technology company’s stock after purchasing an additional 618 shares during the quarter. Wintrust Investments LLC’s holdings in AT&T were worth $1,488,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Horan Securities Inc. boosted its position in shares of AT&T by 439.2% during the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares in the last quarter. Next Capital Management LLC acquired a new stake in shares of AT&T in the 2nd quarter worth about $39,000. Contravisory Investment Management Inc. raised its holdings in shares of AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after acquiring an additional 338 shares during the last quarter. Smart Portfolios LLC raised its holdings in shares of AT&T by 44.8% in the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after acquiring an additional 500 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in shares of AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after acquiring an additional 333 shares during the last quarter. 52.63% of the stock is currently owned by institutional investors.
NYSE:T traded down $0.42 during trading hours on Friday, hitting $34.97. The stock had a trading volume of 16,228,315 shares, compared to its average volume of 32,778,042. The company has a 50 day simple moving average of $34.00 and a two-hundred day simple moving average of $32.01. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T Inc. has a one year low of $26.80 and a one year high of $35.50. The firm has a market capitalization of $255.60 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 2.22 and a beta of 0.62.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.83%. The ex-dividend date was Tuesday, July 9th. AT&T’s payout ratio is 57.95%.
A number of equities research analysts recently weighed in on the stock. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price on the stock in a report on Thursday, July 25th. Cowen upped their target price on shares of AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Desjardins restated an “average” rating and issued a $55.50 target price on shares of AT&T in a report on Tuesday, August 6th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.52.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the transaction, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.
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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