Glenmede Trust Co. NA boosted its position in shares of AT&T Inc. (NYSE:T) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,387,766 shares of the company’s stock after buying an additional 21,718 shares during the period. Glenmede Trust Co. NA’s holdings in AT&T were worth $59,965,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new position in AT&T during the second quarter worth $387,606,000. TIAA CREF Investment Management LLC boosted its position in 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 worth $940,521,000 after buying an additional 2,733,411 shares during the last quarter. Swedbank bought a new position in AT&T during the second quarter worth $104,188,000. First Trust Advisors LP boosted its position in AT&T by 53.7% in the second quarter. First Trust Advisors LP now owns 6,711,838 shares of the company’s stock worth $290,019,000 after buying an additional 2,345,042 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in AT&T by 34.6% in the second quarter. American Century Companies Inc. now owns 8,346,666 shares of the company’s stock worth $360,659,000 after buying an additional 2,146,128 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 up 0.67% during trading on Monday, reaching $39.13. The company’s stock had a trading volume of 9,674,375 shares. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89. The stock has a 50 day moving average of $40.58 and a 200-day moving average of $40.51. The company has a market capitalization of $240.73 billion, a PE ratio of 16.87 and a beta of 0.30.
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, meeting the Zacks’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business earned $40.50 billion during the quarter, compared to analysts’ expectations of $40.75 billion. On average, analysts expect that AT&T Inc. will post $2.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 4.94%. AT&T’s payout ratio is 83.12%.
A number of research firms have recently weighed in on T. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. S&P Equity Research set a $46.00 price objective on AT&T and gave the company a “buy” rating in a research report on Sunday, July 24th. Robert W. Baird reaffirmed a “neutral” rating and set a $41.00 price objective on shares of AT&T in a research report on Monday, July 25th. Finally, Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and lifted their price objective 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. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.82.
In related news, CEO John T. Stankey sold 2,131 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.
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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