Founders Capital Management LLC raised its stake in AT&T Inc. (NYSE:T) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,546 shares of the technology company’s stock after acquiring an additional 13,288 shares during the quarter. AT&T makes up approximately 4.6% of Founders Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Founders Capital Management LLC’s holdings in AT&T were worth $9,618,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Holderness Investments Co. increased its stake in shares of AT&T by 62.9% in the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock valued at $4,008,000 after buying an additional 37,234 shares during the period. Telos Capital Management Inc. increased its stake in shares of AT&T by 4.8% in the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock valued at $2,641,000 after buying an additional 3,197 shares during the period. Altfest L J & Co. Inc. increased its position in AT&T by 42.1% during the 2nd quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock valued at $1,721,000 after purchasing an additional 13,510 shares during the period. Welch Investments LLC increased its position in AT&T by 9.3% during the 2nd quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock valued at $4,122,000 after purchasing an additional 9,291 shares during the period. Finally, Moors & Cabot Inc. increased its position in AT&T by 11.3% during the 2nd quarter. Moors & Cabot Inc. now owns 247,888 shares of the technology company’s stock valued at $9,373,000 after purchasing an additional 25,167 shares during the period. 55.76% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Matthew K. Rose acquired 29,600 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were acquired at an average cost of $33.75 per share, for a total transaction of $999,000.00. Following the purchase, the director now owns 3,100 shares in the company, valued at $104,625. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.
T has been the subject of a number of recent analyst reports. Jefferies Group reissued a “buy” rating and set a $36.38 target price (down previously from $48.00) on shares of AT&T in a research report on Friday, December 1st. Zacks Investment Research downgraded shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Vetr downgraded shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 target price for the company. in a research report on Tuesday, September 26th. Deutsche Bank decreased their target price on shares of AT&T from $41.00 to $38.00 and set a “hold” rating for the company in a research report on Wednesday, October 25th. Finally, Moffett Nathanson reissued a “neutral” rating on shares of AT&T in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the company. AT&T presently has an average rating of “Hold” and a consensus price target of $42.59.
AT&T Inc. (NYSE:T) opened at $36.90 on Friday. AT&T Inc. has a twelve month low of $32.55 and a twelve month high of $42.70. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $226,530.00, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.94 and a beta of 0.44.
AT&T (NYSE:T) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The firm had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. AT&T’s revenue for the quarter was down 3.0% on a year-over-year basis. analysts predict that AT&T Inc. will post 2.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 9th. This is a boost from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.42%. AT&T’s dividend payout ratio (DPR) is 96.15%.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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