Biondo Investment Advisors LLC increased its stake in AT&T Inc. (NYSE:T) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,941 shares of the company’s stock after buying an additional 4,495 shares during the period. AT&T comprises approximately 1.2% of Biondo Investment Advisors LLC’s portfolio, making the stock its 29th largest position. Biondo Investment Advisors LLC’s holdings in AT&T were worth $3,497,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted 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 valued at $940,521,000 after buying an additional 2,733,411 shares in the last quarter. Virginia Retirement System purchased a new stake in AT&T during the first quarter valued at approximately $83,650,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in 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 valued at $198,510,000 after buying an additional 2,054,571 shares during the last quarter. BlackRock Fund Advisors raised its stake in AT&T by 1.8% in the first quarter. BlackRock Fund Advisors now owns 79,579,666 shares of the company’s stock valued at $3,117,136,000 after buying an additional 1,417,502 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in AT&T during the first quarter valued at approximately $49,432,000. Institutional investors and hedge funds own 53.64% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded down 0.38% during midday trading on Friday, hitting $39.22. 13,516,996 shares of the stock traded hands. The stock has a market cap of $241.28 billion, a price-to-earnings ratio of 16.91 and a beta of 0.30. The firm has a 50-day moving average price of $40.33 and a 200 day moving average price of $40.51. AT&T Inc. has a one year low of $32.22 and a one year high of $43.89.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. AT&T had a net margin of 8.76% and a return on equity of 13.93%. The business had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.75 billion. Analysts anticipate that AT&T Inc. will post $2.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio is presently 83.12%.
Several analysts have recently commented on T shares. Vetr lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price target on the stock. in a research report on Tuesday, June 21st. Citigroup Inc. lowered AT&T from a “buy” rating to a “neutral” rating and boosted their target price for the company from $42.00 to $46.00 in a research report on Thursday, July 7th. They noted that the move was a valuation call. Jefferies Group reissued a “buy” rating and issued a $44.00 target price on shares of AT&T in a research report on Thursday, July 21st. Nomura reissued a “buy” rating and issued a $46.00 target price on shares of AT&T in a research report on Wednesday. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and a consensus target price of $41.86.
In other news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total value of $92,442.78. Following the transaction, the chief executive officer now owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by insiders.
AT&T Company Profile
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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