Novare Capital Management LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,161 shares of the technology company’s stock after purchasing an additional 1,380 shares during the period. Novare Capital Management LLC’s holdings in AT&T were worth $5,439,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Ullmann Financial Group Inc. acquired a new position in shares of AT&T in the 1st quarter valued at $101,000. Taylor Wealth Management Partners increased its position in shares of AT&T by 0.4% in the 1st quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after acquiring an additional 11 shares during the period. Almanack Investment Partners LLC. acquired a new position in shares of AT&T in the 1st quarter valued at $109,000. Sterling Investment Advisors Ltd. increased its position in shares of AT&T by 289.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after acquiring an additional 2,024 shares during the period. Finally, Sharkey Howes & Javer increased its position in shares of AT&T by 9.0% in the 2nd quarter. Sharkey Howes & Javer now owns 5,166 shares of the technology company’s stock valued at $195,000 after acquiring an additional 428 shares during the period. 55.08% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on T. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 target price on the stock in a research report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of AT&T in a report on Wednesday, October 25th. 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $42.87.
In other news, Director Matthew K. Rose acquired 29,600 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was 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 directly owns 3,100 shares in the company, valued at approximately $104,625. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) opened at 33.65 on Wednesday. AT&T Inc. has a 12-month low of $33.33 and a 12-month high of $43.03. The firm has a market cap of $206.61 billion, a P/E ratio of 15.81 and a beta of 0.49. The firm has a 50-day moving average of $37.01 and a 200-day moving average of $37.84.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The firm 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%. 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 EPS. On average, equities analysts forecast that AT&T Inc. will post $2.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders 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 5.82%. The ex-dividend date of this dividend is Friday, October 6th. AT&T’s dividend payout ratio is presently 94.69%.
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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