Allred Capital Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,501 shares of the technology company’s stock after selling 4,059 shares during the period. Allred Capital Management LLC’s holdings in AT&T were worth $1,154,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Nordea Investment Management AB grew its position in AT&T by 102.9% during the 2nd quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock worth $1,504,524,000 after purchasing an additional 25,658,276 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of AT&T during the 1st quarter valued at $138,850,000. Laidlaw Wealth Management LLC boosted its stake in shares of AT&T by 6,014.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 4,833,192 shares of the technology company’s stock valued at $160,000 after buying an additional 4,754,142 shares during the period. LSV Asset Management boosted its stake in shares of AT&T by 14.8% during the 2nd quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock valued at $843,455,000 after buying an additional 3,606,476 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in shares of AT&T by 192.3% during the 2nd quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock valued at $163,594,000 after buying an additional 3,560,031 shares during the period. Hedge funds and other institutional investors own 52.29% of the company’s stock.
In related news, Director Stephen J. Luczo acquired 100,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were bought at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.
AT&T stock opened at $27.33 on Friday. The firm has a market cap of $194.73 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.64 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The firm has a fifty day moving average price of $28.84 and a two-hundred day moving average price of $29.74.
AT&T (NYSE:T) last released its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. The firm had revenue of $40.95 billion during the quarter, compared to analyst estimates of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 3.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. AT&T’s payout ratio is 58.26%.
A number of equities research analysts have issued reports on the stock. Barclays assumed coverage on shares of AT&T in a research note on Friday, October 2nd. They set an “overweight” rating for the company. Oppenheimer reissued a “buy” rating and set a $38.00 target price on shares of AT&T in a research note on Thursday, October 1st. Bank of America reissued a “buy” rating and set a $36.00 target price on shares of AT&T in a research note on Friday, July 24th. Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the company from $34.00 to $30.00 in a research note on Monday, August 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $33.56.
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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