Doheny Asset Management CA trimmed its holdings in AT&T Inc. (NYSE:T) by 8.4% in the first quarter, Holdings Channel reports. The institutional investor owned 32,636 shares of the technology company’s stock after selling 3,000 shares during the quarter. Doheny Asset Management CA’s holdings in AT&T were worth $1,163,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in T. BlackRock Inc. raised its holdings in shares of AT&T by 2.8% in the first quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock valued at $13,809,130,000 after buying an additional 10,535,763 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of AT&T by 202.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 13,775,075 shares of the technology company’s stock valued at $535,574,000 after buying an additional 9,225,075 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of AT&T by 53.3% in the fourth quarter. Lazard Asset Management LLC now owns 21,916,005 shares of the technology company’s stock valued at $852,092,000 after buying an additional 7,619,113 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of AT&T by 90.2% in the fourth quarter. American Century Companies Inc. now owns 15,886,607 shares of the technology company’s stock valued at $617,671,000 after buying an additional 7,535,393 shares during the last quarter. Finally, Boston Partners bought a new position in shares of AT&T in the first quarter valued at about $162,658,000. 56.08% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the company. Jefferies Financial Group cut AT&T from a “buy” rating to a “hold” rating and cut their price target for the company from $39.80 to $31.17 in a report on Thursday, June 7th. Macquarie reaffirmed a “buy” rating and issued a $40.00 price target on shares of AT&T in a report on Sunday, April 29th. Moffett Nathanson cut AT&T from a “neutral” rating to a “sell” rating and cut their price target for the company from $35.00 to $28.00 in a report on Wednesday, June 13th. UBS Group cut their price target on AT&T from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, April 26th. Finally, Raymond James dropped their price objective on AT&T from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, April 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $38.21.
In related news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was bought at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the transaction, the director now owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew K. Rose bought 65,500 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were bought at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the completion of the transaction, the director now directly owns 81,319 shares in the company, valued at approximately $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.
Shares of NYSE:T opened at $33.03 on Monday. The stock has a market cap of $198.04 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 2.67 and a beta of 0.43. AT&T Inc. has a 1-year low of $30.13 and a 1-year high of $39.80. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.81.
AT&T (NYSE:T) last posted its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 EPS. sell-side analysts expect that AT&T Inc. will post 3.53 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were given a dividend of $0.50 per share. The ex-dividend date was Monday, July 9th. This represents a $2.00 annualized dividend and a dividend yield of 6.06%. AT&T’s payout ratio is currently 65.57%.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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