First Manhattan Co. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 506,019 shares of the technology company’s stock after selling 69,909 shares during the quarter. First Manhattan Co.’s holdings in AT&T were worth $19,092,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Holderness Investments Co. lifted its stake in AT&T by 62.9% during the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock worth $4,008,000 after purchasing an additional 37,234 shares during the last quarter. Doyle Wealth Management increased its position in AT&T by 4.3% in the second quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock worth $1,417,000 after buying an additional 1,559 shares during the period. Telos Capital Management Inc. increased its position in AT&T by 4.8% in the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after buying an additional 3,197 shares during the period. Altfest L J & Co. Inc. increased its position in AT&T by 42.1% in the second quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock worth $1,721,000 after buying an additional 13,510 shares during the period. Finally, Welch Investments LLC increased its position in AT&T by 9.3% in the second quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock worth $4,122,000 after buying an additional 9,291 shares during the period. Institutional investors own 55.04% of the company’s stock.
Shares of AT&T Inc. (NYSE T) traded up $0.22 during mid-day trading on Friday, hitting $34.22. The company had a trading volume of 57,476,500 shares, compared to its average volume of 24,459,395. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.12. AT&T Inc. has a 1-year low of $32.55 and a 1-year high of $43.03. The company has a market cap of $208,726.00, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.42.
AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. sell-side analysts predict that AT&T Inc. will post 2.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 5.73%. The ex-dividend date was Friday, October 6th. AT&T’s payout ratio is presently 94.69%.
In other news, Director Matthew K. Rose acquired 29,600 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average price of $33.75 per share, with a total value of $999,000.00. Following the acquisition, the director now owns 3,100 shares of the company’s stock, valued at $104,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.
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Several brokerages have weighed in on T. Macquarie reaffirmed a “buy” rating and issued a $43.00 target price on shares of AT&T in a research report on Friday, September 1st. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $44.24 price target on the stock in a report on Thursday, September 28th. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. KeyCorp reissued a “hold” rating on shares of AT&T in a report on Wednesday, October 11th. Finally, Robert W. Baird lowered their price target on AT&T from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $43.48.
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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