Benson Investment Management Company Inc. purchased a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 120,696 shares of the technology company’s stock, valued at approximately $3,471,000.
Several other large investors have also made changes to their positions in the business. BNC Wealth Management LLC purchased a new stake in shares of AT&T during the third quarter valued at $27,000. ELM Advisors LLC bought a new stake in AT&T during the 4th quarter valued at about $59,000. Cerebellum GP LLC purchased a new stake in AT&T in the 3rd quarter valued at about $62,000. Provident Wealth Management LLC purchased a new stake in AT&T in the 3rd quarter valued at about $70,000. Finally, Planned Solutions Inc. bought a new position in AT&T in the 3rd quarter worth about $81,000. Institutional investors and hedge funds own 52.29% of the company’s stock.
Several research analysts recently issued reports on the company. Raymond James raised AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, January 4th. Morgan Stanley downgraded AT&T from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $36.00 to $34.00 in a report on Thursday, December 17th. Barclays initiated coverage on AT&T in a report on Friday, October 2nd. They set an “overweight” rating on the stock. KeyCorp downgraded AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective on the stock. in a report on Monday, October 5th. Finally, Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating and set a $33.00 price objective on the stock in a report on Thursday, December 10th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $32.40.
AT&T (NYSE:T) last posted its earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). The firm had revenue of $42.43 billion during the quarter, compared to analyst estimates of $41.66 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, sell-side analysts expect that AT&T Inc. will post 3.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 11th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.27%. The ex-dividend date is Friday, January 8th. AT&T’s payout ratio is currently 58.26%.
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.
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.