Cubic Asset Management LLC Boosts Stake in AT&T Inc. (NYSE:T)

Cubic Asset Management LLC boosted its position in AT&T Inc. (NYSE:T) by 1.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,740 shares of the technology company’s stock after buying an additional 2,485 shares during the period. AT&T comprises approximately 1.7% of Cubic Asset Management LLC’s portfolio, making the stock its 15th largest position. Cubic Asset Management LLC’s holdings in AT&T were worth $5,474,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of T. Richard C. Young & CO. LTD. raised its position in shares of AT&T by 13.3% in the fourth quarter. Richard C. Young & CO. LTD. now owns 283,151 shares of the technology company’s stock valued at $12,042,000 after buying an additional 33,330 shares in the last quarter. Elkfork Partners LLC acquired a new position in shares of AT&T during the fourth quarter valued at $22,896,000. Cypress Capital Management LLC raised its position in shares of AT&T by 0.7% in the fourth quarter. Cypress Capital Management LLC now owns 340,625 shares of the technology company’s stock valued at $14,487,000 after buying an additional 2,245 shares in the last quarter. Systematic Financial Management LP raised its position in shares of AT&T by 48.2% in the fourth quarter. Systematic Financial Management LP now owns 155,960 shares of the technology company’s stock valued at $6,633,000 after buying an additional 50,742 shares in the last quarter. Finally, Redmond Asset Management LLC raised its position in shares of AT&T by 38.2% in the fourth quarter. Redmond Asset Management LLC now owns 63,720 shares of the technology company’s stock valued at $2,710,000 after buying an additional 17,605 shares in the last quarter. 55.34% of the stock is owned by institutional investors.

AT&T Inc. (NYSE:T) opened at 36.13 on Thursday. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.50. The firm has a 50-day moving average of $37.91 and a 200 day moving average of $40.03. The firm has a market cap of $222.13 billion, a P/E ratio of 17.67 and a beta of 0.47.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. AT&T had a net margin of 7.77% and a return on equity of 14.22%. The firm had revenue of $39.40 billion for the quarter, compared to analyst estimates of $40.50 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s revenue was down 2.8% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post $2.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date is Thursday, July 6th. AT&T’s dividend payout ratio is currently 96.08%.

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Several research firms recently issued reports on T. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $43.59 price objective on the stock in a report on Wednesday, March 22nd. Zacks Investment Research cut AT&T from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Instinet reiterated a “buy” rating and issued a $45.00 price objective (down from $46.00) on shares of AT&T in a report on Sunday, April 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Wednesday, April 19th. Finally, ValuEngine cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $43.66.

About AT&T

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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