RMB Capital Management LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 20.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,877 shares of the technology company’s stock after buying an additional 3,660 shares during the quarter. RMB Capital Management LLC’s holdings in AT&T were worth $662,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Curi Capital acquired a new position in AT&T during the fourth quarter valued at approximately $25,000. Arcadia Investment Management Corp MI acquired a new position in AT&T during the first quarter valued at approximately $30,000. Better Money Decisions LLC bought a new position in AT&T in the first quarter valued at approximately $32,000. Veritas Investment Partners UK Ltd. bought a new position in AT&T in the fourth quarter valued at approximately $31,000. Finally, Interactive Financial Advisors lifted its stake in AT&T by 65.8% in the first quarter. Interactive Financial Advisors now owns 1,101 shares of the technology company’s stock valued at $33,000 after buying an additional 437 shares in the last quarter. Institutional investors own 50.48% of the company’s stock.
In other AT&T news, CFO Pascal Desroches purchased 3,056 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The shares were acquired at an average cost of $29.06 per share, for a total transaction of $88,807.36. Following the completion of the purchase, the chief financial officer now owns 173,871 shares of the company’s stock, valued at approximately $5,052,691.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John T. Stankey purchased 34,614 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The stock was acquired at an average price of $28.81 per share, for a total transaction of $997,229.34. The disclosure for this purchase can be found here. 0.08% of the stock is owned by insiders.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.08. AT&T had a negative net margin of 1.29% and a positive return on equity of 12.33%. The firm had revenue of $43.90 billion for the quarter, compared to analyst estimates of $42.69 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 3.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Friday, April 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, April 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.13%. AT&T’s dividend payout ratio is currently 65.41%.
A number of brokerages have weighed in on T. Oppenheimer reaffirmed a “hold” rating on shares of AT&T in a research note on Monday, April 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $31.00 to $34.00 in a research note on Wednesday, April 28th. Barclays lifted their price target on shares of AT&T from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, April 23rd. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Friday, May 21st. Finally, UBS Group raised shares of AT&T from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $32.00 to $35.00 in a research report on Friday, May 21st. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $31.75.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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