Liberty Capital Management Inc. cut its stake in AT&T Inc. (NYSE:T) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,849 shares of the technology company’s stock after selling 400 shares during the period. Liberty Capital Management Inc.’s holdings in AT&T were worth $324,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Jacobs & Co. CA raised its holdings in AT&T by 2.4% in the second quarter. Jacobs & Co. CA now owns 213,618 shares of the technology company’s stock valued at $8,059,000 after acquiring an additional 5,000 shares in the last quarter. Mascoma Wealth Management LLC raised its holdings in AT&T by 215.1% in the second quarter. Mascoma Wealth Management LLC now owns 38,648 shares of the technology company’s stock valued at $1,458,000 after acquiring an additional 26,383 shares in the last quarter. Iowa State Bank raised its holdings in AT&T by 2.6% in the second quarter. Iowa State Bank now owns 117,456 shares of the technology company’s stock valued at $4,432,000 after acquiring an additional 2,925 shares in the last quarter. Chesley Taft & Associates LLC raised its holdings in AT&T by 4.4% in the second quarter. Chesley Taft & Associates LLC now owns 121,109 shares of the technology company’s stock valued at $4,569,000 after acquiring an additional 5,093 shares in the last quarter. Finally, Fenimore Asset Management Inc. raised its holdings in AT&T by 13.8% in the second quarter. Fenimore Asset Management Inc. now owns 8,413 shares of the technology company’s stock valued at $317,000 after acquiring an additional 1,019 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price target on the stock in a report on Wednesday, August 16th. Cowen and Company reaffirmed a “market perform” rating and issued a $41.00 price target (down from $43.00) on shares of AT&T in a report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of AT&T in a report on Thursday, August 24th. Robert W. Baird reaffirmed an “outperform” rating and issued a $43.00 price target on shares of AT&T in a report on Thursday, September 21st. Finally, BidaskClub raised shares of AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.87.
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AT&T (NYSE:T) last announced its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The company had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. During the same period last year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post $2.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.12%. AT&T’s dividend payout ratio (DPR) is presently 92.45%.
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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