Alta Capital Management LLC increased its position in shares of AT&T Inc. (NYSE:T) by 7.4% during the second quarter, Holdings Channel reports. The fund owned 38,718 shares of the company’s stock after buying an additional 2,668 shares during the period. Alta Capital Management LLC’s holdings in AT&T were worth $1,673,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invictus RG raised its position in AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock worth $138,000 after buying an additional 2,560 shares during the last quarter. RPg Family Wealth Advisory LLC raised its position in shares of AT&T by 61.0% in the first quarter. RPg Family Wealth Advisory LLC now owns 4,398 shares of the company’s stock worth $172,000 after buying an additional 1,666 shares in the last quarter. Continental Advisors LLC acquired a new position in shares of AT&T during the first quarter worth $200,000. Kelman Lazarov Inc. raised its position in shares of AT&T by 29.3% in the second quarter. Kelman Lazarov Inc. now owns 5,346 shares of the company’s stock worth $232,000 after buying an additional 1,211 shares in the last quarter. Finally, Gateway Advisory LLC acquired a new position in shares of AT&T during the first quarter worth $239,000. 53.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of AT&T Inc. (NYSE:T) traded up 0.23% during midday trading on Tuesday, reaching $39.10. The company’s stock had a trading volume of 22,314,894 shares. AT&T Inc. has a 52 week low of $32.22 and a 52 week high of $43.89. The stock has a market capitalization of $240.54 billion, a PE ratio of 16.86 and a beta of 0.30. The stock has a 50-day moving average price of $40.52 and a 200 day moving average price of $40.53.
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, meeting the consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The company had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Equities analysts forecast that AT&T Inc. will post $2.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio (DPR) is presently 83.12%.
A number of research analysts recently weighed in on the company. S&P Equity Research set a $46.00 price objective on AT&T and gave the stock a “buy” rating in a report on Sunday, July 24th. Vetr lowered AT&T from a “hold” rating to a “sell” rating and set a $38.71 price objective on the stock. in a report on Tuesday, June 21st. Wells Fargo & Co. reaffirmed a “buy” rating on shares of AT&T in a report on Friday, July 22nd. Barclays PLC upped their price objective on AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 15th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a report on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.82.
In other news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction 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 transaction, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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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