Raymond James Trust N.A. boosted its holdings in AT&T Inc. (NYSE:T) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 567,743 shares of the technology company’s stock after purchasing an additional 13,680 shares during the quarter. Raymond James Trust N.A.’s holdings in AT&T were worth $16,186,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. First Command Bank grew its position in shares of AT&T by 94.7% in the 2nd quarter. First Command Bank now owns 136,968 shares of the technology company’s stock valued at $4,141,000 after acquiring an additional 66,629 shares during the period. AXA grew its position in shares of AT&T by 27.9% in the 1st quarter. AXA now owns 3,527,087 shares of the technology company’s stock valued at $102,814,000 after acquiring an additional 770,426 shares during the period. Kwmg LLC grew its position in shares of AT&T by 6.9% in the 2nd quarter. Kwmg LLC now owns 83,935 shares of the technology company’s stock valued at $2,537,000 after acquiring an additional 5,439 shares during the period. City Holding Co. grew its position in shares of AT&T by 3.3% in the 2nd quarter. City Holding Co. now owns 154,335 shares of the technology company’s stock valued at $4,664,000 after acquiring an additional 4,975 shares during the period. Finally, Balyasny Asset Management LLC bought a new position in shares of AT&T in the 2nd quarter valued at about $2,082,000. 52.29% of the stock is owned by institutional investors and hedge funds.
Shares of AT&T stock opened at $27.33 on Friday. The company has a 50-day simple moving average of $28.84 and a two-hundred day simple moving average of $29.74. The stock has a market capitalization of $194.73 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.70.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the previous year, the company earned $0.89 EPS. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date is Thursday, October 8th. AT&T’s dividend payout ratio is currently 58.26%.
In other news, Director Stephen J. Luczo acquired 100,000 shares of AT&T stock in a transaction dated Thursday, July 23rd. The shares were bought at an average cost of $29.69 per share, with a total value of $2,969,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
T has been the subject of a number of analyst reports. Oppenheimer reissued a “buy” rating and issued a $38.00 price objective on shares of AT&T in a research report on Thursday, October 1st. Royal Bank of Canada lifted their target price on shares of AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Bank of America reaffirmed a “buy” rating and set a $36.00 target price on shares of AT&T in a report on Friday, July 24th. KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a report on Monday, October 5th. Finally, Barclays began coverage on shares of AT&T in a report on Friday, October 2nd. They set an “overweight” rating for the company. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. AT&T currently has an average rating of “Hold” and an average target price of $33.56.
AT&T Company Profile
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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