Laurel Grove Capital LLC lowered its stake in AT&T Inc. (NYSE:T) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 22,839 shares of the company’s stock after selling 400 shares during the period. Laurel Grove Capital LLC’s holdings in AT&T were worth $987,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. GW&K Investment Management LLC increased its position in AT&T by 4.5% in the first quarter. GW&K Investment Management LLC now owns 719,175 shares of the company’s stock valued at $28,170,000 after buying an additional 30,808 shares during the last quarter. Benin Management CORP increased its position in AT&T by 2.1% in the first quarter. Benin Management CORP now owns 19,941 shares of the company’s stock valued at $781,000 after buying an additional 401 shares during the last quarter. Oliver Luxxe Assets LLC increased its position in AT&T by 6.0% in the first quarter. Oliver Luxxe Assets LLC now owns 67,774 shares of the company’s stock valued at $2,655,000 after buying an additional 3,835 shares during the last quarter. Dividend Asset Capital LLC increased its position in AT&T by 17.6% in the first quarter. Dividend Asset Capital LLC now owns 33,667 shares of the company’s stock valued at $1,319,000 after buying an additional 5,033 shares during the last quarter. Finally, V Wealth Management LLC acquired a new position in AT&T during the first quarter valued at approximately $1,780,000. 53.64% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Inc. (NYSE:T) traded down 0.61% on Friday, reaching $38.87. 19,171,955 shares of the company traded hands. The company has a market capitalization of $239.13 billion, a PE ratio of 16.76 and a beta of 0.30. The stock has a 50-day moving average of $40.58 and a 200 day moving average of $40.51. AT&T Inc. has a 52-week low of $32.22 and a 52-week high of $43.89.
AT&T (NYSE:T) last announced its quarterly 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 analyst estimates of $40.75 billion. On average, equities analysts forecast that AT&T Inc. will post $2.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.94%. AT&T’s payout ratio is presently 83.12%.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, July 5th. Jefferies Group reissued a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price target on shares of AT&T in a research report on Monday, July 25th. Finally, Citigroup Inc. downgraded AT&T from a “buy” rating to a “neutral” rating and raised their price target 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.57.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following 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 document filed with the SEC, which is accessible through the SEC website. Company 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.
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.