Avitas Wealth Management LLC grew its holdings in AT&T Inc. (NYSE:T) by 68.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,492 shares of the technology company’s stock after acquiring an additional 45,550 shares during the period. AT&T comprises 1.2% of Avitas Wealth Management LLC’s holdings, making the stock its 17th biggest position. Avitas Wealth Management LLC’s holdings in AT&T were worth $4,257,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in T. Horan Securities Inc. raised its position in AT&T by 439.2% during the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after acquiring an additional 830 shares during the period. Next Capital Management LLC purchased a new stake in shares of AT&T during the second quarter worth $39,000. Contravisory Investment Management Inc. grew its holdings in shares of AT&T by 36.0% during the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after buying an additional 338 shares in the last quarter. Centaurus Financial Inc. grew its holdings in shares of AT&T by 24.4% during the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after buying an additional 333 shares in the last quarter. Finally, Clear Investment Research LLC grew its holdings in shares of AT&T by 3,051.9% during the second quarter. Clear Investment Research LLC now owns 1,702 shares of the technology company’s stock worth $57,000 after buying an additional 1,648 shares in the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of T opened at $38.47 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $38.75. The firm has a 50-day moving average price of $37.12 and a 200 day moving average price of $33.80. The firm has a market capitalization of $276.28 billion, a P/E ratio of 10.93, a P/E/G ratio of 2.39 and a beta of 0.63.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. AT&T’s quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s dividend payout ratio is currently 57.95%.
In related news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.
A number of equities research analysts have recently issued reports on T shares. DZ Bank reaffirmed a “hold” rating and set a $38.00 target price on shares of AT&T in a report on Wednesday, September 18th. JPMorgan Chase & Co. set a $39.00 target price on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Morgan Stanley set a $37.00 target price on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Bank of America reaffirmed a “buy” rating on shares of AT&T in a report on Monday, September 9th. Finally, Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $38.28.
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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