Telemus Capital LLC increased its position in shares of AT&T Inc. (NYSE:T) by 16.8% during the second quarter, Holdings Channel reports. The firm owned 56,503 shares of the company’s stock after buying an additional 8,139 shares during the period. Telemus Capital LLC’s holdings in AT&T were worth $2,441,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Invictus RG increased its position in shares of 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. RPg Family Wealth Advisory LLC increased its position in shares of AT&T by 61.0% in the first quarter. RPg Family Wealth Advisory LLC now owns 4,398 shares of the company’s stock worth $172,000 after buying an additional 1,666 shares during the period. Continental Advisors LLC bought a new position in shares of AT&T during the first quarter worth $200,000. Kelman Lazarov Inc. increased its position in shares of AT&T by 29.3% in the second quarter. Kelman Lazarov Inc. now owns 5,346 shares of the company’s stock worth $232,000 after buying an additional 1,211 shares during the period. Finally, Gateway Advisory LLC bought a new position in shares of AT&T during the first quarter worth $239,000. Institutional investors own 53.64% of the company’s stock.
AT&T Inc. (NYSE:T) traded down 0.29% on Friday, reaching $40.61. 19,381,624 shares of the company’s stock were exchanged. AT&T Inc. has a one year low of $32.22 and a one year high of $43.89. The firm has a 50 day moving average of $40.97 and a 200-day moving average of $40.48. The stock has a market cap of $249.83 billion, a price-to-earnings ratio of 17.51 and a beta of 0.28.
AT&T (NYSE:T) last released its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting 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 earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion. Equities research analysts forecast that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Wednesday, October 5th. AT&T’s payout ratio is 83.12%.
Several research firms have weighed in on T. S&P Equity Research set a $46.00 price target on shares of AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Vetr downgraded shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 price target on the stock. in a research report on Tuesday, June 21st. Wells Fargo & Co. reiterated a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Barclays PLC increased their price target on shares of AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, July 15th. Finally, Jefferies Group reiterated a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.43.
In related news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the sale, the chief executive officer now owns 13,583 shares of the company’s stock, valued at $589,230.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company’s stock.
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.