Lowe Brockenbrough & Co. Inc. decreased its position in AT&T Inc. (NYSE:T) by 70.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,885 shares of the technology company’s stock after selling 151,323 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in AT&T were worth $2,410,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in T. Rand Wealth LLC raised its position in shares of AT&T by 0.7% during the second quarter. Rand Wealth LLC now owns 204,408 shares of the technology company’s stock worth $7,712,000 after purchasing an additional 1,450 shares during the period. Eads & Heald Investment Counsel raised its position in shares of AT&T by 1.4% during the second quarter. Eads & Heald Investment Counsel now owns 43,080 shares of the technology company’s stock worth $1,625,000 after purchasing an additional 585 shares during the period. Korea Investment CORP raised its position in shares of AT&T by 3.1% during the second quarter. Korea Investment CORP now owns 4,806,368 shares of the technology company’s stock worth $181,344,000 after purchasing an additional 146,158 shares during the period. Mercer Capital Advisers Inc. raised its position in shares of AT&T by 2.9% during the second quarter. Mercer Capital Advisers Inc. now owns 23,407 shares of the technology company’s stock worth $883,000 after purchasing an additional 657 shares during the period. Finally, Telemus Capital LLC raised its position in shares of AT&T by 16.4% during the second quarter. Telemus Capital LLC now owns 60,233 shares of the technology company’s stock worth $2,273,000 after purchasing an additional 8,491 shares during the period. Institutional investors and hedge funds own 55.03% of the company’s stock.
In related news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the transaction, the director now owns 3,100 shares in the company, valued at $104,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by insiders.
Shares of AT&T Inc. (T) opened at 33.97 on Monday. AT&T Inc. has a 1-year low of $33.33 and a 1-year high of $43.03. The company has a market cap of $208.58 billion, a P/E ratio of 15.96 and a beta of 0.49. The stock’s 50 day moving average price is $37.13 and its 200 day moving average price is $37.95.
AT&T (NYSE:T) last released its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The company had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. AT&T’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. Equities research analysts forecast that AT&T Inc. will post $2.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend is Friday, October 6th. AT&T’s dividend payout ratio is currently 94.69%.
A number of equities research analysts have recently issued reports on the company. Macquarie reaffirmed a “buy” rating and set 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 target price on the stock in a research report on Thursday, September 28th. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. KeyCorp reaffirmed a “hold” rating on shares of AT&T in a research report on Wednesday, October 11th. Finally, Robert W. Baird cut their target price on AT&T from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.87.
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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