Perkins Coie Trust Co lessened its position in shares of AT&T Inc. (NYSE:T) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 67,474 shares of the technology company’s stock after selling 1,379 shares during the quarter. Perkins Coie Trust Co’s holdings in AT&T were worth $2,553,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Horan Securities Inc. boosted its stake in shares of AT&T by 439.2% in the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after buying an additional 830 shares during the last quarter. Next Capital Management LLC purchased a new stake in shares of AT&T in the second quarter worth about $39,000. Contravisory Investment Management Inc. boosted its stake in shares of AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after buying an additional 338 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of AT&T by 24.4% in the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after buying an additional 333 shares during the last quarter. Finally, Interactive Financial Advisors purchased a new stake in shares of AT&T in the first quarter worth about $56,000. Institutional investors and hedge funds own 53.02% of the company’s stock.
T has been the topic of a number of recent research reports. JPMorgan Chase & Co. set a $39.00 target price on AT&T and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup upped their target price on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Bank of America restated a “buy” rating on shares of AT&T in a research note on Monday, September 9th. Desjardins restated an “average” rating and issued a $55.50 target price on shares of AT&T in a research note on Tuesday, August 6th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $40.00 price target (up previously from $35.00) on shares of AT&T in a report on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. AT&T currently has an average rating of “Buy” and a consensus target price of $38.43.
In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.
Shares of AT&T stock traded up $0.20 during midday trading on Friday, reaching $37.62. 841,370 shares of the company’s stock traded hands, compared to its average volume of 33,095,766. The company has a market cap of $274.85 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63. The company’s 50 day simple moving average is $36.67 and its 200 day simple moving average is $33.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. AT&T Inc. has a 52 week low of $26.80 and a 52 week high of $38.75.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. The business had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. AT&T’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. As a group, equities research analysts predict that AT&T Inc. will post 3.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.42%. AT&T’s dividend payout ratio is currently 57.95%.
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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