Gables Capital Management Inc. Takes $2.24 Million Position in AT&T Inc. (T)

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Gables Capital Management Inc. bought a new stake in shares of AT&T Inc. (NYSE:T) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 62,956 shares of the technology company’s stock, valued at approximately $2,244,000. AT&T accounts for 2.0% of Gables Capital Management Inc.’s holdings, making the stock its 15th biggest position.

Other large investors also recently made changes to their positions in the company. Earnest Partners LLC acquired a new stake in AT&T during the 4th quarter valued at approximately $113,000. Braun Bostich & Associates Inc. acquired a new stake in AT&T during the 1st quarter valued at approximately $137,000. Elmwood Wealth Management Inc. acquired a new stake in AT&T during the 1st quarter valued at approximately $178,000. Taylor Hoffman Wealth Management acquired a new stake in AT&T during the 4th quarter valued at approximately $189,000. Finally, Bristol John W & Co. Inc. NY acquired a new stake in AT&T during the 1st quarter valued at approximately $201,000. Institutional investors and hedge funds own 56.08% of the company’s stock.

In related news, Director Piazza Samuel A. Jr. Di acquired 7,690 shares of AT&T stock in a transaction that occurred on Wednesday, August 8th. The stock was acquired at an average price of $32.48 per share, for a total transaction of $249,771.20. Following the transaction, the director now directly owns 31,405 shares of the company’s stock, valued at approximately $1,020,034.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Matthew K. Rose acquired 65,500 shares of AT&T stock in a transaction that occurred on 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 transaction, the director now directly owns 81,319 shares in the company, valued at $2,481,042.69. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

T has been the subject of a number of recent analyst reports. Macquarie restated a “buy” rating and set a $40.00 price objective on shares of AT&T in a research note on Sunday, April 29th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, July 17th. Bank of America upgraded AT&T from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, July 30th. They noted that the move was a valuation call. Deutsche Bank decreased their target price on AT&T from $41.00 to $36.00 and set a “hold” rating for the company in a research report on Tuesday, May 1st. Finally, Jefferies Financial Group lowered AT&T from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.80 to $31.17 in a research report on Thursday, June 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. AT&T presently has a consensus rating of “Buy” and an average price target of $38.21.

NYSE:T opened at $33.11 on Tuesday. AT&T Inc. has a 12-month low of $30.13 and a 12-month high of $39.80. The company has a market cap of $198.04 billion, a P/E ratio of 10.86, a P/E/G ratio of 2.67 and a beta of 0.43. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.92.

AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The business had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. equities analysts expect that AT&T Inc. will post 3.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Investors 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 dividend on an annualized basis and a yield of 6.04%. AT&T’s dividend payout ratio is currently 65.57%.

AT&T Company Profile

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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