World Asset Management Inc grew its position in AT&T Inc. (NYSE:T) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,349 shares of the technology company’s stock after purchasing an additional 6,325 shares during the period. AT&T comprises about 0.8% of World Asset Management Inc’s portfolio, making the stock its 14th largest position. World Asset Management Inc’s holdings in AT&T were worth $8,759,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Isthmus Partners LLC increased its holdings in AT&T by 1.1% during the second quarter. Isthmus Partners LLC now owns 281,273 shares of the technology company’s stock worth $8,095,000 after buying an additional 3,122 shares during the last quarter. CapWealth Advisors LLC increased its holdings in AT&T by 7.3% during the second quarter. CapWealth Advisors LLC now owns 645,291 shares of the technology company’s stock worth $18,571,000 after buying an additional 43,962 shares during the last quarter. One Charles Private Wealth Services LLC purchased a new stake in AT&T during the second quarter worth about $281,000. TRUE Private Wealth Advisors increased its holdings in AT&T by 4.7% during the second quarter. TRUE Private Wealth Advisors now owns 139,369 shares of the technology company’s stock worth $4,011,000 after buying an additional 6,291 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in AT&T by 2.3% during the second quarter. Principal Financial Group Inc. now owns 10,878,296 shares of the technology company’s stock worth $313,077,000 after buying an additional 242,962 shares during the last quarter. Institutional investors own 51.61% of the company’s stock.
T has been the subject of a number of research analyst reports. Scotiabank upgraded shares of AT&T from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the stock from $28.00 to $31.00 in a report on Wednesday, June 16th. Redburn Partners initiated coverage on shares of AT&T in a report on Friday, June 25th. They set a “sell” rating and a $23.00 price objective for the company. Royal Bank of Canada assumed coverage on shares of AT&T in a report on Thursday, July 22nd. They set a “hold” rating and a $30.00 price objective for the company. Morgan Stanley lowered shares of AT&T to an “equal weight” rating and set a $29.00 target price for the company. in a research report on Friday, July 16th. Finally, UBS Group upgraded shares of AT&T from a “neutral” rating to a “buy” rating and increased their target price for the stock from $32.00 to $35.00 in a research report on Friday, May 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.16.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $44.05 billion for the quarter, compared to the consensus estimate of $42.39 billion. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. Sell-side analysts predict that AT&T Inc. will post 3.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.55%. The ex-dividend date was Thursday, July 8th. AT&T’s dividend payout ratio (DPR) is presently 65.41%.
AT&T Company Profile
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
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