Greenleaf Trust grew its holdings in AT&T Inc. (NYSE:T) by 77.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,338 shares of the technology company’s stock after purchasing an additional 27,670 shares during the period. Greenleaf Trust’s holdings in AT&T were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. HC Financial Advisors Inc. bought a new stake in AT&T during the fourth quarter valued at about $1,136,000. Comerica Securities Inc. lifted its stake in shares of AT&T by 4.7% in the first quarter. Comerica Securities Inc. now owns 65,094 shares of the technology company’s stock valued at $2,321,000 after buying an additional 2,896 shares during the period. Proffitt & Goodson Inc. lifted its stake in shares of AT&T by 55.3% in the first quarter. Proffitt & Goodson Inc. now owns 28,861 shares of the technology company’s stock valued at $1,029,000 after buying an additional 10,280 shares during the period. Wealthfront Inc. lifted its stake in shares of AT&T by 10.6% in the first quarter. Wealthfront Inc. now owns 193,922 shares of the technology company’s stock valued at $6,913,000 after buying an additional 18,542 shares during the period. Finally, Weatherly Asset Management L. P. lifted its stake in shares of AT&T by 6.4% in the first quarter. Weatherly Asset Management L. P. now owns 241,678 shares of the technology company’s stock valued at $8,616,000 after buying an additional 14,477 shares during the period. Hedge funds and other institutional investors own 64.81% of the company’s stock.
Several equities research analysts recently weighed in on T shares. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Tuesday, July 17th. Macquarie reiterated a “buy” rating and issued a $35.00 target price on shares of AT&T in a research note on Wednesday, September 12th. Bank of America reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. UBS Group upgraded shares of AT&T from a “neutral” rating to a “buy” rating and increased their target price for the company from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Finally, Tigress Financial upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $37.86.
NYSE:T opened at $31.04 on Friday. AT&T Inc. has a 12-month low of $28.85 and a 12-month high of $39.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $190.06 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The business had revenue of $45.74 billion during 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 revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. Equities analysts predict that AT&T Inc. will post 3.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend was Tuesday, October 9th. AT&T’s payout ratio is 65.57%.
In other news, Director Michael B. Mccallister acquired 4,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now owns 7,361 shares in the company, valued at approximately $214,499.54. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.
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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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