Baystate Wealth Management LLC raised its stake in AT&T Inc. (NYSE:T) by 58.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,984 shares of the technology company’s stock after purchasing an additional 5,157 shares during the period. Baystate Wealth Management LLC’s holdings in AT&T were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in T. Ferguson Wellman Capital Management Inc. grew its holdings in AT&T by 3.2% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 800,146 shares of the technology company’s stock worth $22,812,000 after acquiring an additional 24,970 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of AT&T by 3.5% in the 3rd quarter. North Star Investment Management Corp. now owns 285,357 shares of the technology company’s stock valued at $8,136,000 after purchasing an additional 9,680 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of AT&T during the 3rd quarter worth $1,079,000. Osher Van de Voorde Investment Management grew its stake in shares of AT&T by 5.1% during the third quarter. Osher Van de Voorde Investment Management now owns 372,430 shares of the technology company’s stock worth $10,618,000 after purchasing an additional 17,955 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC increased its holdings in AT&T by 25.7% in the third quarter. Signature Estate & Investment Advisors LLC now owns 15,357 shares of the technology company’s stock valued at $438,000 after buying an additional 3,142 shares during the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.
Several research analysts have recently issued reports on T shares. Oppenheimer reaffirmed a “buy” rating and set a $38.00 price objective on shares of AT&T in a research report on Thursday, October 1st. KeyCorp lowered shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research note on Monday, October 5th. Bank of America reissued a “buy” rating and set a $36.00 price objective on shares of AT&T in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and cut their price target for the stock from $34.00 to $30.00 in a research note on Monday, August 31st. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.56.
Shares of T stock opened at $27.33 on Friday. The company has a market capitalization of $194.73 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $28.84 and its two-hundred day moving average is $29.74. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.70.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The firm had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the company earned $0.89 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s payout ratio is 58.26%.
In other AT&T news, Director Stephen J. Luczo acquired 100,000 shares of the stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $29.69 per share, with a total value of $2,969,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.
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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