American Century Companies Inc. decreased its position in AT&T Inc. (NYSE:T) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,487,516 shares of the technology company’s stock after selling 121,157 shares during the quarter. American Century Companies Inc. owned approximately 0.12% of AT&T worth $251,431,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in T. Bank of New York Mellon Corp raised its position in shares of AT&T by 21.2% in the second quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock valued at $2,335,182,000 after purchasing an additional 12,709,982 shares during the period. Dimensional Fund Advisors LP raised its position in shares of AT&T by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock valued at $2,650,940,000 after purchasing an additional 11,990,755 shares during the period. Northern Trust Corp increased its position in AT&T by 13.7% during the second quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock worth $2,695,135,000 after acquiring an additional 10,082,798 shares during the period. Charles Schwab Investment Advisory Inc. bought a new position in AT&T during the second quarter worth $321,448,000. Finally, Schwab Charles Investment Management Inc. increased its position in AT&T by 21.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 30,207,723 shares of the technology company’s stock worth $969,970,000 after acquiring an additional 5,257,713 shares during the period. 64.77% of the stock is currently owned by institutional investors.
In other news, CEO John T. Stankey sold 3,748 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.86 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.86. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The firm had revenue of $47.99 billion for the quarter, compared to the consensus estimate of $48.50 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 3.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Thursday, January 10th were paid a dividend of $0.51 per share. 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 6.87%. 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 equities analysts recently issued reports on T shares. Tigress Financial raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Bank of America set a $37.00 target price on shares of AT&T and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Scotiabank set a $32.00 target price on shares of AT&T and gave the stock a “hold” rating in a research report on Thursday, October 25th. Robert W. Baird dropped their target price on shares of AT&T from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Finally, Argus reaffirmed a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. AT&T presently has an average rating of “Buy” and a consensus target price 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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