Verity & Verity LLC Acquires 7,878 Shares of AT&T Inc. (NYSE:T)

Verity & Verity LLC lifted its holdings in AT&T Inc. (NYSE:T) by 3.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 251,662 shares of the technology company’s stock after acquiring an additional 7,878 shares during the quarter. AT&T accounts for about 2.0% of Verity & Verity LLC’s holdings, making the stock its 16th biggest holding. Verity & Verity LLC’s holdings in AT&T were worth $9,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Horan Securities Inc. raised its holdings in AT&T by 439.2% during the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after buying an additional 830 shares during the last quarter. Next Capital Management LLC purchased a new position in AT&T during the 2nd quarter valued at $39,000. Contravisory Investment Management Inc. increased its position in AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares during the period. Centaurus Financial Inc. increased its position in AT&T by 24.4% during the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after purchasing an additional 333 shares during the period. Finally, Interactive Financial Advisors purchased a new position in AT&T during the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 53.02% of the company’s stock.

In other news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.

T has been the topic of a number of research analyst reports. Oppenheimer set a $41.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Bank of America reissued a “buy” rating on shares of AT&T in a research report on Monday, September 9th. Citigroup boosted their price objective on shares of AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Raymond James reissued an “outperform” rating and set a $40.00 price objective (up from $35.00) on shares of AT&T in a research report on Monday, October 7th. Finally, ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. AT&T currently has an average rating of “Buy” and a consensus target price of $38.43.

NYSE:T opened at $37.58 on Friday. The firm’s 50-day moving average price is $36.72 and its 200-day moving average price is $33.57. The company has a market capitalization of $270.72 billion, a PE ratio of 10.68, a P/E/G ratio of 2.33 and a beta of 0.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $38.75.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.89. The firm had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. Equities analysts anticipate that AT&T Inc. will post 3.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Wednesday, October 9th. AT&T’s dividend payout ratio is presently 57.95%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

See Also: Current Ratio

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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