Heron Financial Group LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 45.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,369 shares of the technology company’s stock after purchasing an additional 9,513 shares during the quarter. Heron Financial Group LLC’s holdings in AT&T were worth $871,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Newport Trust Co grew its stake in AT&T by 1.7% in the 2nd quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock valued at $6,075,279,000 after acquiring an additional 3,397,127 shares during the last quarter. Nordea Investment Management AB grew its stake in AT&T by 102.9% in the 2nd quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock valued at $1,504,524,000 after acquiring an additional 25,658,276 shares during the last quarter. LSV Asset Management grew its stake in AT&T by 14.8% in the 2nd quarter. LSV Asset Management now owns 27,901,266 shares of the technology company’s stock valued at $843,455,000 after acquiring an additional 3,606,476 shares during the last quarter. California Public Employees Retirement System grew its stake in AT&T by 0.4% in the 2nd quarter. California Public Employees Retirement System now owns 27,351,579 shares of the technology company’s stock valued at $826,838,000 after acquiring an additional 107,834 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in AT&T by 0.9% in the 2nd quarter. Macquarie Group Ltd. now owns 21,778,950 shares of the technology company’s stock valued at $658,113,000 after acquiring an additional 199,575 shares during the last quarter. 52.29% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Stephen J. Luczo acquired 100,000 shares of the stock in a transaction on Thursday, July 23rd. The stock was bought at an average price of $29.69 per share, with a total value of $2,969,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by company insiders.
Shares of NYSE:T opened at $27.33 on Friday. 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 52-week low of $26.08 and a 52-week high of $39.70. The company has a 50 day moving average of $28.84 and a two-hundred day moving average of $29.74. The company 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.
AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating 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 company had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the company earned $0.89 earnings per share. AT&T’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 3.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio (DPR) is 58.26%.
A number of research firms have issued reports on T. Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $34.00 to $30.00 in a report on Monday, August 31st. Oppenheimer restated a “buy” rating and issued a $38.00 target price on shares of AT&T in a report on Thursday, October 1st. Morgan Stanley reduced their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Bank of America restated a “buy” rating and issued a $36.00 target price on shares of AT&T in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. AT&T 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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