Independence Trust CO boosted its position in AT&T Inc. (NYSE:T) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,705 shares of the company’s stock after buying an additional 1,510 shares during the period. AT&T accounts for 4.0% of Independence Trust CO’s investment portfolio, making the stock its 10th largest position. Independence Trust CO’s holdings in AT&T were worth $2,579,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of T. TIAA CREF Investment Management LLC increased its position in shares of AT&T by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 24,011,256 shares of the company’s stock worth $940,521,000 after buying an additional 2,733,411 shares during the last quarter. Swedbank bought a new position in shares of AT&T during the second quarter worth $104,188,000. Virginia Retirement System bought a new position in shares of AT&T during the first quarter worth $83,650,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of AT&T by 68.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,067,911 shares of the company’s stock worth $198,510,000 after buying an additional 2,054,571 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of AT&T by 1.8% in the first quarter. BlackRock Fund Advisors now owns 79,579,666 shares of the company’s stock worth $3,117,136,000 after buying an additional 1,417,502 shares during the last quarter. 53.62% of the stock is owned by institutional investors.
AT&T Inc. (NYSE:T) traded up 0.13% during midday trading on Monday, hitting $39.27. The stock had a trading volume of 13,885,020 shares. AT&T Inc. has a 52 week low of $32.22 and a 52 week high of $43.89. The company’s 50-day moving average price is $40.29 and its 200 day moving average price is $40.53. The company has a market capitalization of $241.59 billion, a PE ratio of 16.93 and a beta of 0.30.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. The business had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.75 billion. AT&T had a return on equity of 13.93% and a net margin of 8.76%. On average, analysts expect that AT&T Inc. will post $2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Wednesday, October 5th. AT&T’s dividend payout ratio is currently 83.12%.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, July 5th. Jefferies Group reissued a “buy” rating on shares of AT&T in a research note on Wednesday, August 3rd. S&P Equity Research set a $46.00 price objective on AT&T and gave the company a “buy” rating in a research note on Sunday, July 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 target price on shares of AT&T in a report on Monday, July 25th. Finally, Citigroup Inc. lowered AT&T from a “buy” rating to a “neutral” rating and raised their target price for the company from $42.00 to $46.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and an average price target of $41.86.
In related news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the sale, the chief executive officer now owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.07% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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