Gradient Investments LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389,101 shares of the technology company’s stock after purchasing an additional 5,490 shares during the quarter. AT&T accounts for 0.7% of Gradient Investments LLC’s portfolio, making the stock its 24th biggest holding. Gradient Investments LLC’s holdings in AT&T were worth $14,724,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in T. Grimes & Company Inc. lifted its holdings in AT&T by 0.9% in the second quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock valued at $1,132,000 after acquiring an additional 294 shares during the period. Interactive Financial Advisors lifted its holdings in AT&T by 16.7% in the second quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after acquiring an additional 300 shares during the period. Berkshire Money Management Inc. increased its position in AT&T by 3.2% in the second quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock worth $331,000 after buying an additional 305 shares in the last quarter. Oxbow Advisors LLC increased its position in AT&T by 0.4% in the second quarter. Oxbow Advisors LLC now owns 86,471 shares of the technology company’s stock worth $2,898,000 after buying an additional 305 shares in the last quarter. Finally, Lenox Wealth Management Inc. increased its position in AT&T by 6.0% in the second quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock worth $181,000 after buying an additional 308 shares in the last quarter. 53.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on the company. JPMorgan Chase & Co. set a $39.00 price target on AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. DZ Bank restated a “hold” rating and issued a $38.00 price target on shares of AT&T in a research report on Wednesday, September 18th. ValuEngine cut AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Oppenheimer set a $41.00 price target on AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Morgan Stanley set a $37.00 price target on AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. AT&T presently has a consensus rating of “Buy” and an average price target of $38.43.
Shares of NYSE:T traded up $0.39 during trading on Thursday, hitting $37.44. 14,648,387 shares of the company’s stock were exchanged, compared to its average volume of 33,945,016. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75. The business’s 50-day simple moving average is $36.62 and its 200 day simple moving average is $33.50. The company has a market cap of $273.75 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.37 and a beta of 0.63.
AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter last year, the business posted $0.91 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s dividend payout ratio is presently 57.95%.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the transaction, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.
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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