Sterneck Capital Management LLC boosted its holdings in AT&T Inc. (NYSE:T) by 33.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,115 shares of the technology company’s stock after purchasing an additional 2,810 shares during the quarter. Sterneck Capital Management LLC’s holdings in AT&T were worth $317,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Norway Savings Bank raised its stake in AT&T by 9.7% in the 3rd quarter. Norway Savings Bank now owns 47,036 shares of the technology company’s stock worth $1,341,000 after purchasing an additional 4,149 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in AT&T by 1.2% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 252,508 shares of the technology company’s stock worth $7,199,000 after purchasing an additional 3,008 shares in the last quarter. Winfield Associates Inc. raised its stake in AT&T by 52.0% in the 3rd quarter. Winfield Associates Inc. now owns 13,376 shares of the technology company’s stock worth $381,000 after purchasing an additional 4,575 shares in the last quarter. CRA Financial Services LLC raised its stake in AT&T by 2.0% in the 3rd quarter. CRA Financial Services LLC now owns 41,688 shares of the technology company’s stock worth $1,189,000 after purchasing an additional 805 shares in the last quarter. Finally, TRH Financial LLC raised its stake in AT&T by 23.2% in the 3rd quarter. TRH Financial LLC now owns 76,263 shares of the technology company’s stock worth $2,174,000 after purchasing an additional 14,374 shares in the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.
In other AT&T news, Director Stephen J. Luczo acquired 100,000 shares of the stock in a transaction on Thursday, July 23rd. The shares were purchased at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.
T opened at $27.33 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The company’s fifty day moving average price is $28.84 and its two-hundred day moving average price is $29.74. AT&T Inc. has a 1-year low of $26.08 and a 1-year high of $39.70. The company has a market cap of $194.73 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.64 and a beta of 0.69.
AT&T (NYSE:T) last released its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The business’s revenue was down 8.9% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders 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 yield of 7.61%. AT&T’s payout ratio is 58.26%.
Several brokerages have recently commented on T. Royal Bank of Canada boosted their target price on shares of AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Barclays began coverage on shares of AT&T in a research report on Friday, October 2nd. They issued an “overweight” rating for the company. Morgan Stanley dropped their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $34.00 to $30.00 in a report on Monday, August 31st. Finally, Oppenheimer reissued a “buy” rating and set a $38.00 target price on shares of AT&T in a report on Thursday, October 1st. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock 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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