First Trust Advisors LP boosted its position in shares of AT&T Inc. (NYSE:T) by 53.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,711,838 shares of the company’s stock after buying an additional 2,345,042 shares during the period. AT&T accounts for approximately 0.9% of First Trust Advisors LP’s portfolio, making the stock its 8th largest position. First Trust Advisors LP owned 0.11% of AT&T worth $290,019,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Cornerstone Investment Partners LLC increased its position in AT&T by 0.6% in the second quarter. Cornerstone Investment Partners LLC now owns 9,554 shares of the company’s stock worth $413,000 after buying an additional 54 shares in the last quarter. Cohen Lawrence B increased its position in AT&T by 0.4% in the second quarter. Cohen Lawrence B now owns 13,585 shares of the company’s stock worth $587,000 after buying an additional 60 shares in the last quarter. Nadler Financial Group Inc. increased its position in AT&T by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 14,085 shares of the company’s stock worth $609,000 after buying an additional 62 shares in the last quarter. Smith & Howard Wealth Management LLC increased its position in AT&T by 0.8% in the first quarter. Smith & Howard Wealth Management LLC now owns 8,220 shares of the company’s stock worth $322,000 after buying an additional 66 shares in the last quarter. Finally, Badgley Phelps & Bell Inc. increased its position in AT&T by 0.4% in the first quarter. Badgley Phelps & Bell Inc. now owns 17,269 shares of the company’s stock worth $676,000 after buying an additional 70 shares in the last quarter. Institutional investors own 53.64% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded down 0.61% during trading on Friday, hitting $38.87. The stock had a trading volume of 19,171,955 shares. The stock has a 50 day moving average price of $40.58 and a 200-day moving average price of $40.51. The stock has a market capitalization of $239.13 billion, a price-to-earnings ratio of 16.76 and a beta of 0.30. 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 quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The business 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, equities research analysts predict that AT&T Inc. will post $2.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders 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 4.94%. AT&T’s dividend payout ratio (DPR) is presently 83.12%.
T has been the subject of several analyst reports. Vetr lowered AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price for the company. in a report on Tuesday, June 21st. Buckingham Research lowered AT&T from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $30.97 to $39.56 in a report on Friday, June 24th. They noted that the move was a valuation call. Barclays PLC initiated coverage on AT&T in a report on Monday, June 27th. They issued a “buy” rating for the company. Robert W. Baird restated a “neutral” rating and issued a $41.00 target price on shares of AT&T in a report on Tuesday, June 28th. Finally, Deutsche Bank AG boosted their target price on AT&T from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $41.57.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction dated 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 owns 13,583 shares in the company, valued at approximately $589,230.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by company insiders.
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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