John G Ullman & Associates Inc. trimmed its position in AT&T Inc. (NYSE:T) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,636 shares of the technology company’s stock after selling 2,065 shares during the quarter. John G Ullman & Associates Inc.’s holdings in AT&T were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Bingham Osborn & Scarborough LLC raised its stake in AT&T by 29.2% during the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 29,806 shares of the technology company’s stock valued at $999,000 after purchasing an additional 6,741 shares during the last quarter. BHK Investment Advisors LLC raised its stake in AT&T by 22.5% during the 2nd quarter. BHK Investment Advisors LLC now owns 30,064 shares of the technology company’s stock valued at $1,007,000 after purchasing an additional 5,526 shares during the last quarter. Day & Ennis LLC raised its stake in AT&T by 4.8% during the 2nd quarter. Day & Ennis LLC now owns 51,282 shares of the technology company’s stock valued at $1,718,000 after purchasing an additional 2,356 shares during the last quarter. Clarius Group LLC raised its stake in AT&T by 71.5% during the 2nd quarter. Clarius Group LLC now owns 44,792 shares of the technology company’s stock valued at $1,501,000 after purchasing an additional 18,670 shares during the last quarter. Finally, Employers Holdings Inc. acquired a new position in AT&T during the 2nd quarter valued at $767,000. Institutional investors and hedge funds own 52.63% of the company’s stock.
Shares of T stock traded up $0.04 during mid-day trading on Wednesday, reaching $35.02. The company’s stock had a trading volume of 3,378,766 shares, compared to its average volume of 34,435,740. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $35.44. The company has a market cap of $255.53 billion, a P/E ratio of 9.95, a PEG ratio of 2.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50-day moving average is $33.95 and its two-hundred day moving average is $31.95.
AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 3.56 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s payout ratio is 57.95%.
In other 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 sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on T shares. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research note on Thursday, July 25th. Cowen upped their target price on shares of AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley restated a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research note on Thursday, August 1st. ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Raymond James increased their price objective on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.72.
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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