Citizens Financial Group Inc RI raised its stake in shares of AT&T Inc. (NYSE:T) by 25.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,751 shares of the technology company’s stock after buying an additional 89,433 shares during the quarter. AT&T comprises approximately 1.2% of Citizens Financial Group Inc RI’s holdings, making the stock its 20th largest position. Citizens Financial Group Inc RI’s holdings in AT&T were worth $14,834,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in T. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of AT&T by 26.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 23,675,124 shares of the technology company’s stock worth $760,208,000 after purchasing an additional 4,930,318 shares during the last quarter. New England Investment & Retirement Group Inc. acquired a new position in AT&T in the 2nd quarter valued at about $288,000. Exencial Wealth Advisors LLC grew its stake in AT&T by 73.4% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 49,341 shares of the technology company’s stock valued at $1,584,000 after buying an additional 20,879 shares during the last quarter. J. L. Bainbridge & Co. Inc. acquired a new position in AT&T in the 2nd quarter valued at about $29,372,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in AT&T by 263.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 45,912 shares of the technology company’s stock valued at $1,452,000 after buying an additional 33,265 shares during the last quarter. 63.31% of the stock is owned by institutional investors and hedge funds.
In other news, CEO John T. Stankey sold 3,748 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey Y. Yang purchased 33,558 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were purchased at an average cost of $29.79 per share, with a total value of $999,692.82. Following the acquisition, the director now owns 5,402 shares in the company, valued at approximately $160,925.58. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.
AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.86. The firm had revenue of $47.99 billion during the quarter, compared to the consensus estimate of $48.50 billion. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, research analysts forecast that AT&T Inc. will post 3.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Thursday, January 10th were issued a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, January 9th. This represents a $2.04 dividend on an annualized basis and a yield of 6.90%. This is an increase from AT&T’s previous quarterly dividend of $0.50. AT&T’s payout ratio is currently 57.95%.
A number of research analysts recently commented on the stock. Cowen reiterated a “buy” rating and issued a $35.00 price target on shares of AT&T in a research note on Thursday, January 31st. Bank of America set a $37.00 price target on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Argus reiterated a “buy” rating and issued a $48.00 price target on shares of AT&T in a research note on Friday, October 26th. Scotiabank set a $32.00 price target on shares of AT&T and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, Citigroup upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AT&T has an average rating of “Buy” and an average price target of $35.89.
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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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