Private Asset Management Inc. boosted its stake in AT&T Inc. (NYSE:T) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 341,148 shares of the technology company’s stock after purchasing an additional 15,418 shares during the period. AT&T comprises approximately 1.7% of Private Asset Management Inc.’s portfolio, making the stock its 20th largest position. Private Asset Management Inc.’s holdings in AT&T were worth $10,954,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Douglass Winthrop Advisors LLC raised its holdings in shares of AT&T by 0.5% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 268,798 shares of the technology company’s stock valued at $10,451,000 after buying an additional 1,421 shares during the last quarter. Budros Ruhlin & Roe Inc. increased its stake in shares of AT&T by 2.4% during the fourth quarter. Budros Ruhlin & Roe Inc. now owns 61,260 shares of the technology company’s stock worth $2,382,000 after acquiring an additional 1,450 shares during the period. Northstar Wealth Partners LLC increased its stake in shares of AT&T by 2.4% during the fourth quarter. Northstar Wealth Partners LLC now owns 63,526 shares of the technology company’s stock worth $2,430,000 after acquiring an additional 1,462 shares during the period. GHP Investment Advisors Inc. increased its stake in shares of AT&T by 1.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 124,950 shares of the technology company’s stock worth $4,858,000 after acquiring an additional 1,566 shares during the period. Finally, Tiedemann Advisors LLC grew its position in AT&T by 8.1% during the first quarter. Tiedemann Advisors LLC now owns 21,192 shares of the technology company’s stock worth $754,000 after buying an additional 1,587 shares during the period. Hedge funds and other institutional investors own 64.63% of the company’s stock.
Several brokerages have issued reports on T. Barclays set a $33.00 price target on shares of AT&T and gave the company a “hold” rating in a report on Wednesday. Raymond James downgraded shares of AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 price target on the stock. in a report on Friday, July 13th. Zacks Investment Research downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. JPMorgan Chase & Co. assumed coverage on shares of AT&T in a report on Tuesday, June 19th. They issued a “neutral” rating and a $36.00 price target on the stock. Finally, ValuEngine raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. AT&T currently has an average rating of “Hold” and an average price target of $37.82.
In other AT&T news, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of AT&T stock in a transaction dated Wednesday, August 8th. The shares were bought at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the transaction, the director now owns 31,405 shares in the company, valued at approximately $1,020,034.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew K. Rose purchased 65,500 shares of AT&T stock in a transaction dated Thursday, July 26th. The stock was acquired at an average price of $30.51 per share, for a total transaction of $1,998,405.00. Following the completion of the transaction, the director now owns 81,319 shares in the company, valued at approximately $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.
T traded up $0.50 during trading hours on Friday, reaching $32.25. 42,860,346 shares of the stock traded hands, compared to its average volume of 34,498,637. The firm has a market cap of $206.15 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 2.67 and a beta of 0.39. AT&T Inc. has a fifty-two week low of $30.13 and a fifty-two week high of $39.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.92.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The business’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. On average, analysts forecast that AT&T Inc. will post 3.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.20%. The ex-dividend date is Tuesday, October 9th. AT&T’s dividend payout ratio is currently 65.57%.
AT&T Company Profile
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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