Access Financial Services Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 6.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 10,675 shares of the technology company’s stock after acquiring an additional 675 shares during the period. Access Financial Services Inc.’s holdings in AT&T were worth $417,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of T. Kanawha Capital Management LLC lifted its holdings in shares of AT&T by 3.7% during the second quarter. Kanawha Capital Management LLC now owns 227,614 shares of the technology company’s stock valued at $7,627,000 after purchasing an additional 8,105 shares in the last quarter. Bernardo Wealth Planning LLC boosted its position in shares of AT&T by 2.1% during the second quarter. Bernardo Wealth Planning LLC now owns 21,801 shares of the technology company’s stock valued at $731,000 after buying an additional 441 shares during the last quarter. Balyasny Asset Management LLC boosted its position in shares of AT&T by 136.8% during the second quarter. Balyasny Asset Management LLC now owns 64,852 shares of the technology company’s stock valued at $2,173,000 after buying an additional 241,313 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of AT&T by 566.7% during the second quarter. Cubist Systematic Strategies LLC now owns 63,572 shares of the technology company’s stock valued at $2,130,000 after buying an additional 54,037 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in AT&T by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 599,256 shares of the technology company’s stock worth $20,081,000 after buying an additional 26,640 shares in the last quarter. 53.63% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on T. JPMorgan Chase & Co. boosted their target price on AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group upped their target price on shares of AT&T from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Sanford C. Bernstein began coverage on shares of AT&T in a report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price target on the stock. Standpoint Research lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, SunTrust Banks boosted their price objective on shares of AT&T to $36.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $39.22.
T stock opened at $38.52 on Wednesday. AT&T Inc. has a fifty-two week low of $28.92 and a fifty-two week high of $39.70. The business’s 50-day moving average is $38.63 and its two-hundred day moving average is $36.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $281.39 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 2.43 and a beta of 0.62.
AT&T (NYSE:T) last released its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business had revenue of $44.59 billion during the quarter, compared to the consensus estimate of $45.45 billion. During the same period in the previous year, the company posted $0.90 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 3.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.40%. This is a positive change from AT&T’s previous quarterly dividend of $0.51. AT&T’s dividend payout ratio is presently 59.09%.
AT&T Company Profile
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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