Coconut Grove Bank raised its position in shares of AT&T Inc. (NYSE:T) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,392 shares of the company’s stock after buying an additional 923 shares during the period. AT&T comprises about 2.2% of Coconut Grove Bank’s investment portfolio, making the stock its 11th largest position. Coconut Grove Bank’s holdings in AT&T were worth $2,480,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in T. 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 period. 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 period. 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 period. 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 period. 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 period. 53.64% of the stock is owned by institutional investors.
AT&T Inc. (NYSE:T) traded up 0.26% during midday trading on Wednesday, reaching $39.20. The company had a trading volume of 4,041,125 shares. The company has a 50-day moving average of $40.47 and a 200-day moving average of $40.52. The stock has a market capitalization of $241.16 billion, a PE ratio of 16.90 and a beta of 0.30. AT&T Inc. has a 12-month low of $32.22 and a 12-month high of $43.89.
AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. AT&T had a return on equity of 13.93% and a net margin of 8.76%. On average, analysts predict that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a $0.48 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.91%. AT&T’s dividend payout ratio is currently 83.12%.
Several research analysts have commented on the company. S&P Equity Research set a $46.00 target price on AT&T and gave the stock a “buy” rating in a research note on Sunday, July 24th. Vetr downgraded AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price for the company. in a research note on Tuesday, June 21st. Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a research note on Friday, July 22nd. Barclays PLC boosted their target price on AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, July 15th. Finally, Jefferies Group reissued a “buy” rating on shares of AT&T in a research note on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $41.89.
In other news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction that occurred 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 sale, 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 filing with the SEC, which is available through this link. 0.07% of the stock is 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.
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.