Gilman Hill Asset Management LLC grew its holdings in AT&T Inc. (NYSE:T – Get Rating) by 19.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 379,387 shares of the technology company’s stock after purchasing an additional 62,110 shares during the quarter. AT&T makes up 1.7% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 16th biggest position. Gilman Hill Asset Management LLC’s holdings in AT&T were worth $7,952,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Barber Financial Group Inc. increased its position in shares of AT&T by 1.1% during the first quarter. Barber Financial Group Inc. now owns 39,438 shares of the technology company’s stock worth $932,000 after acquiring an additional 424 shares during the period. Vectors Research Management LLC boosted its position in AT&T by 2.0% during the fourth quarter. Vectors Research Management LLC now owns 24,123 shares of the technology company’s stock worth $593,000 after purchasing an additional 474 shares in the last quarter. Somerset Trust Co lifted its position in shares of AT&T by 1.2% in the first quarter. Somerset Trust Co now owns 41,360 shares of the technology company’s stock valued at $977,000 after acquiring an additional 474 shares in the last quarter. Corsicana & Co. grew its holdings in shares of AT&T by 14.4% during the 2nd quarter. Corsicana & Co. now owns 3,975 shares of the technology company’s stock worth $83,000 after purchasing an additional 500 shares during the period. Finally, Meridian Wealth Partners LLC lifted its position in AT&T by 5.3% during the fourth quarter. Meridian Wealth Partners LLC now owns 10,550 shares of the technology company’s stock valued at $259,000 after buying an additional 528 shares in the last quarter. Institutional investors own 52.88% of the company’s stock.
Analyst Upgrades and Downgrades
T has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of AT&T to $21.00 in a research report on Friday, July 22nd. Cowen decreased their price objective on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Wolfe Research cut their target price on AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Moffett Nathanson dropped their target price on AT&T from $19.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, August 18th. Finally, Raymond James reissued an “outperform” rating and issued a $26.00 target price on shares of AT&T in a research note on Thursday, July 7th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.41.
AT&T Stock Down 1.8 %
AT&T (NYSE:T – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The company had revenue of $29.64 billion during the quarter, compared to analyst estimates of $29.48 billion. During the same period in the previous year, the business earned $0.89 EPS. AT&T’s quarterly revenue was down 17.1% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.54 EPS for the current fiscal year.
AT&T Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.96%. The ex-dividend date of this dividend was Friday, July 8th. AT&T’s dividend payout ratio (DPR) is presently 40.81%.
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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