Gilbert & Cook Inc. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,049 shares of the technology company’s stock after purchasing an additional 823 shares during the period. Gilbert & Cook Inc.’s holdings in AT&T were worth $607,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of T. Nuveen Asset Management LLC boosted its holdings in shares of AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock valued at $1,543,169,000 after acquiring an additional 43,525,113 shares in the last quarter. Vanguard Group Inc. raised its position in shares of AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after buying an additional 6,744,699 shares during the last quarter. Morgan Stanley raised its position in shares of AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after buying an additional 5,931,167 shares during the last quarter. California Public Employees Retirement System raised its position in shares of AT&T by 18.1% in the third quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock valued at $1,060,292,000 after buying an additional 4,292,231 shares during the last quarter. Finally, Covenant Multifamily Offices LLC acquired a new position in shares of AT&T in the second quarter valued at approximately $81,364,000. 52.94% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on T. Bank of America reissued a “buy” rating on shares of AT&T in a research report on Monday, September 9th. Barclays boosted their target price on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. They noted that the move was a valuation call. Cowen set a $40.00 target price on shares of AT&T and gave the company a “buy” rating in a report on Friday, September 6th. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a report on Thursday, July 25th. Finally, Raymond James restated a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of AT&T in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.74.
AT&T (NYSE:T) last released its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The company had revenue of $44.59 billion during the quarter, compared to the consensus estimate of $45.45 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. AT&T’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.04 annualized dividend and a yield of 5.18%. AT&T’s dividend payout ratio is currently 57.95%.
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.
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