Bogart Wealth LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 30.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,970 shares of the technology company’s stock after purchasing an additional 2,096 shares during the period. Bogart Wealth LLC’s holdings in AT&T were worth $339,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after buying an additional 6,744,699 shares during the period. Northern Trust Corp lifted its holdings in AT&T by 2.0% in the second quarter. Northern Trust Corp now owns 86,817,291 shares of the technology company’s stock worth $2,909,247,000 after buying an additional 1,729,145 shares during the period. Bank of New York Mellon Corp lifted its holdings in AT&T by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 68,529,809 shares of the technology company’s stock worth $2,296,433,000 after buying an additional 2,201,538 shares during the period. Morgan Stanley lifted its holdings in AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after buying an additional 5,931,167 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after buying an additional 43,525,113 shares during the period. Institutional investors own 53.02% of the company’s stock.
Several analysts have commented on the stock. Raymond James restated an “outperform” rating and issued a $40.00 price objective (up from $35.00) on shares of AT&T in a report on Monday. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Cowen set a $40.00 price objective on shares of AT&T and gave the stock a “buy” rating in a report on Friday, September 6th. Citigroup raised their price objective on shares of AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. AT&T has an average rating of “Buy” and an average price target of $38.43.
Shares of NYSE T traded up $0.41 on Thursday, reaching $37.46. 11,423,713 shares of the company’s stock traded hands, compared to its average volume of 33,945,016. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $38.75. The business’s 50 day simple moving average is $36.62 and its two-hundred day simple moving average is $33.50. The company has a market cap of $273.75 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.
AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s dividend payout ratio is 57.95%.
In related news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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