Birmingham Capital Management Co. Inc. AL increased its stake in AT&T Inc. (NYSE:T) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 87,111 shares of the company’s stock after buying an additional 200 shares during the period. AT&T makes up approximately 1.7% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 29th largest position. Birmingham Capital Management Co. Inc. AL’s holdings in AT&T were worth $3,764,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock worth $101,000 after buying an additional 1,489 shares during the last quarter. Taylor Wealth Management Partners increased its position in AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock worth $110,000 after buying an additional 700 shares during the last quarter. WealthTrust Arizona LLC increased its position in AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock worth $113,000 after buying an additional 300 shares during the last quarter. Invictus RG increased 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. Finally, JNBA Financial Advisors increased its position in AT&T by 6.6% in the second quarter. JNBA Financial Advisors now owns 3,852 shares of the company’s stock worth $166,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 53.64% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded down 0.94% on Wednesday, hitting $39.05. The company had a trading volume of 14,261,209 shares. The firm has a market capitalization of $240.24 billion, a price-to-earnings ratio of 16.84 and a beta of 0.30. The company has a 50 day moving average price of $40.81 and a 200 day moving average price of $40.53. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89.
AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The firm earned $40.50 billion during 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, equities analysts forecast that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 4.81%. AT&T’s dividend payout ratio (DPR) is presently 83.12%.
T has been the subject of a number of recent analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price target on shares of AT&T in a research note on Tuesday, June 28th. Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and upped their price target for the company from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Zacks Investment Research cut AT&T from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. FBR & Co upped their price target on AT&T from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, July 22nd. Finally, Buckingham Research cut AT&T from a “buy” rating to a “neutral” rating and upped their price target for the company from $30.97 to $39.56 in a research note on Friday, June 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. AT&T has an average rating of “Hold” and a consensus target price of $41.57.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the transaction, the chief executive officer now owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company 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.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with MarketBeat.com's FREE daily email newsletter.