Court Place Advisors LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,730 shares of the technology company’s stock after acquiring an additional 2,957 shares during the quarter. AT&T accounts for 1.4% of Court Place Advisors LLC’s holdings, making the stock its 18th largest position. Court Place Advisors LLC’s holdings in AT&T were worth $3,363,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in T. Guardian Investment Management increased its position in shares of AT&T by 8.4% in the second quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock valued at $4,598,000 after buying an additional 11,054 shares in the last quarter. Ironsides Asset Advisors LLC increased its position in shares of AT&T by 450.8% in the second quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock valued at $1,735,000 after buying an additional 44,231 shares in the last quarter. Whittier Trust Co. increased its position in shares of AT&T by 9.5% in the second quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock valued at $14,859,000 after buying an additional 40,293 shares in the last quarter. BP PLC increased its position in shares of AT&T by 30.5% in the second quarter. BP PLC now owns 914,826 shares of the technology company’s stock valued at $29,375,000 after buying an additional 213,826 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of AT&T by 14.1% in the second quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock valued at $1,622,000 after buying an additional 6,247 shares in the last quarter. Institutional investors own 64.81% of the company’s stock.
In other AT&T news, Director Michael B. Mccallister purchased 4,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The shares were acquired at an average price of $29.14 per share, with a total value of $116,560.00. Following the purchase, the director now directly owns 7,361 shares in the company, valued at approximately $214,499.54. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
Several analysts recently commented on the company. Raymond James cut AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 price target for the company. in a research report on Friday, July 13th. Scotiabank set a $32.00 price target on AT&T and gave the stock a “hold” rating in a research report on Thursday, October 25th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, July 17th. Robert W. Baird dropped their price target on AT&T from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Finally, Bank of America set a $37.00 price target on AT&T and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.95.
NYSE T opened at $30.96 on Wednesday. The firm has a market cap of $187.36 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 2.44 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. AT&T Inc. has a fifty-two week low of $28.85 and a fifty-two week high of $39.33.
AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). The company had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. Equities analysts anticipate that AT&T Inc. will post 3.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date was Tuesday, October 9th. AT&T’s dividend payout ratio (DPR) is currently 65.57%.
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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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