Visionary Asset Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 8.2% during the second quarter, Holdings Channel reports. The institutional investor owned 70,420 shares of the technology company’s stock after selling 6,329 shares during the period. Visionary Asset Management Inc.’s holdings in AT&T were worth $2,657,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Beech Hill Advisors Inc. boosted its position in shares of AT&T by 11.4% in the second quarter. Beech Hill Advisors Inc. now owns 116,345 shares of the technology company’s stock worth $4,390,000 after buying an additional 11,929 shares in the last quarter. West Coast Financial LLC boosted its position in shares of AT&T by 10.6% in the second quarter. West Coast Financial LLC now owns 96,806 shares of the technology company’s stock worth $3,652,000 after buying an additional 9,292 shares in the last quarter. Glenview State Bank Trust DEPT. boosted its position in shares of AT&T by 5.9% in the second quarter. Glenview State Bank Trust DEPT. now owns 89,379 shares of the technology company’s stock worth $3,373,000 after buying an additional 4,945 shares in the last quarter. Tealwood Asset Management Inc. boosted its position in shares of AT&T by 1.1% in the second quarter. Tealwood Asset Management Inc. now owns 129,472 shares of the technology company’s stock worth $4,885,000 after buying an additional 1,443 shares in the last quarter. Finally, Cribstone Capital Management LLC boosted its position in shares of AT&T by 4.0% in the second quarter. Cribstone Capital Management LLC now owns 64,196 shares of the technology company’s stock worth $2,422,000 after buying an additional 2,487 shares in the last quarter. Hedge funds and other institutional investors own 55.28% of the company’s stock.
AT&T Inc. (NYSE:T) traded down 0.10% during mid-day trading on Wednesday, reaching $38.32. 6,894,562 shares of the company’s stock were exchanged. AT&T Inc. has a 12 month low of $35.81 and a 12 month high of $43.48. The firm has a market cap of $235.28 billion, a price-to-earnings ratio of 18.08 and a beta of 0.47. The stock has a 50-day moving average of $37.65 and a 200-day moving average of $39.78.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. Analysts anticipate that AT&T Inc. will post $2.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Thursday, July 6th. AT&T’s dividend payout ratio (DPR) is presently 92.45%.
A number of brokerages have commented on T. BidaskClub upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Vetr cut shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $40.69 target price for the company. in a research note on Wednesday, July 26th. Cowen and Company reiterated a “market perform” rating and issued a $41.00 target price (down previously from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Finally, Barclays PLC cut their target price on shares of AT&T from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating and eleven have issued a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and an average target price of $43.40.
AT&T Company Profile
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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