Gradient Investments LLC Has $12.98 Million Stock Holdings in AT&T Inc. (NYSE:T)

Gradient Investments LLC grew its position in AT&T Inc. (NYSE:T) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 429,359 shares of the technology company’s stock after buying an additional 22,322 shares during the period. Gradient Investments LLC’s holdings in AT&T were worth $12,980,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Northside Capital Management LLC lifted its stake in shares of AT&T by 1.9% in the 1st quarter. Northside Capital Management LLC now owns 17,191 shares of the technology company’s stock valued at $501,000 after purchasing an additional 326 shares during the last quarter. Central Bank & Trust Co. lifted its stake in shares of AT&T by 2.3% in the 1st quarter. Central Bank & Trust Co. now owns 14,976 shares of the technology company’s stock valued at $502,000 after purchasing an additional 330 shares during the last quarter. Biondo Investment Advisors LLC lifted its stake in shares of AT&T by 0.3% in the 1st quarter. Biondo Investment Advisors LLC now owns 105,362 shares of the technology company’s stock valued at $3,071,000 after purchasing an additional 340 shares during the last quarter. Benedict Financial Advisors Inc. lifted its stake in shares of AT&T by 0.4% in the 1st quarter. Benedict Financial Advisors Inc. now owns 82,265 shares of the technology company’s stock valued at $2,398,000 after purchasing an additional 344 shares during the last quarter. Finally, Dividend Assets Capital LLC lifted its stake in shares of AT&T by 1.2% in the 1st quarter. Dividend Assets Capital LLC now owns 29,369 shares of the technology company’s stock valued at $856,000 after purchasing an additional 356 shares during the last quarter. 53.84% of the stock is owned by institutional investors.

Shares of NYSE T traded up $0.32 during trading on Friday, hitting $29.86. 853,915 shares of the company were exchanged, compared to its average volume of 40,009,476. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average price of $30.59 and a 200-day moving average price of $33.48. The firm has a market capitalization of $214.67 billion, a PE ratio of 15.17, a P/E/G ratio of 1.73 and a beta of 0.72.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). AT&T had a return on equity of 13.27% and a net margin of 8.05%. The company had revenue of $42.78 billion for the quarter, compared to analysts’ expectations of $44.75 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 3.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date of this dividend is Thursday, July 9th. AT&T’s payout ratio is 58.26%.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating and set a $33.00 price target on the stock. in a report on Wednesday, May 27th. Wells Fargo & Co reduced their price target on AT&T from $36.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, April 3rd. Deutsche Bank reduced their price target on AT&T from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Cfra reduced their price target on AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Raymond James downgraded AT&T from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $35.94.

In other AT&T news, Director Stephen J. Luczo acquired 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was purchased at an average cost of $29.38 per share, with a total value of $1,057,680.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Geoffrey Y. Yang acquired 6,754 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average cost of $29.39 per share, with a total value of $198,500.06. Following the completion of the transaction, the director now directly owns 9,398 shares in the company, valued at approximately $276,207.22. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.

About AT&T

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

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