Burleson & Company LLC boosted its position in AT&T Inc. (NYSE:T) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,542 shares of the technology company’s stock after buying an additional 6,067 shares during the quarter. AT&T makes up approximately 1.3% of Burleson & Company LLC’s portfolio, making the stock its 19th biggest position. Burleson & Company LLC’s holdings in AT&T were worth $2,233,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CKW Financial Group lifted its position in AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after purchasing an additional 2,159 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in AT&T in the first quarter valued at approximately $137,000. Elmwood Wealth Management Inc. bought a new stake in AT&T in the first quarter valued at approximately $178,000. Cerebellum GP LLC bought a new stake in AT&T in the second quarter valued at approximately $178,000. Finally, Bristol John W & Co. Inc. NY bought a new stake in AT&T in the first quarter valued at approximately $201,000. 64.63% of the stock is owned by institutional investors and hedge funds.
In related news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were purchased at an average cost of $32.48 per share, with a total value of $249,771.20. Following the completion of the purchase, the director now owns 31,405 shares in the company, valued at approximately $1,020,034.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew K. Rose bought 65,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was bought at an average cost of $30.51 per share, for a total transaction of $1,998,405.00. Following the completion of the purchase, the director now owns 81,319 shares of the company’s stock, 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 corporate insiders.
A number of brokerages recently commented on T. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Morgan Stanley restated an “overweight” rating and set a $37.00 target price on shares of AT&T in a report on Wednesday, June 27th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, July 24th. JPMorgan Chase & Co. began coverage on AT&T in a report on Tuesday, June 19th. They set a “neutral” rating and a $36.00 target price for the company. Finally, Raymond James downgraded AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price for the company. in a report on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. AT&T presently has an average rating of “Hold” and an average target price of $37.82.
T opened at $32.25 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $206.15 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 2.67 and a beta of 0.39. AT&T Inc. has a 12-month low of $30.13 and a 12-month high of $39.33.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $38.99 billion during the quarter, compared to the consensus estimate of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. On average, equities analysts predict that AT&T Inc. will post 3.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 6.20%. AT&T’s dividend payout ratio (DPR) is 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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