Asset Planning Services Ltd. Boosts Stake in AT&T Inc. (NYSE:T)
Asset Planning Services Ltd. raised its position in AT&T Inc. (NYSE:T) by 26.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,169 shares of the technology company’s stock after buying an additional 877 shares during the period. Asset Planning Services Ltd.’s holdings in AT&T were worth $173,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Elgethun Capital Management purchased a new position in shares of AT&T during the fourth quarter valued at approximately $100,000. Massey Quick & Co. LLC bought a new position in AT&T during the fourth quarter valued at about $102,000. Empirical Finance LLC bought a new position in AT&T during the fourth quarter valued at about $116,000. Cascade Investment Advisors Inc. bought a new position in AT&T during the fourth quarter valued at about $162,000. Finally, New Capital Management LP bought a new position in AT&T during the fourth quarter valued at about $176,000. 55.35% of the stock is owned by institutional investors.
AT&T Inc. (T) traded up 0.25% during trading on Friday, hitting $36.30. The stock had a trading volume of 23,561,432 shares. The firm has a 50 day moving average of $38.41 and a 200-day moving average of $40.54. AT&T Inc. has a one year low of $36.10 and a one year high of $43.50. The company has a market cap of $223.17 billion, a P/E ratio of 17.75 and a beta of 0.47. AT&T also was the target of unusually large options trading on Thursday. Stock investors acquired 35,059 call options on the stock. This is an increase of 105% compared to the typical daily volume of 17,109 call options.
AT&T (NYSE:T) last issued its earnings results on Tuesday, April 25th. The technology company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. AT&T had a return on equity of 14.22% and a net margin of 7.77%. The business had revenue of $39.40 billion for the quarter, compared to analyst estimates of $40.50 billion. During the same period last year, the company posted $0.72 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that AT&T Inc. will post $2.90 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.96 annualized dividend and a dividend yield of 5.40%. AT&T’s dividend payout ratio is presently 96.08%.
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Several equities research analysts recently commented on the company. Wells Fargo & Company reiterated an “outperform” rating on shares of AT&T in a report on Tuesday, April 11th. Tigress Financial upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Wednesday, April 19th. Deutsche Bank AG reaffirmed a “hold” rating and set a $41.00 price objective (down from $42.00) on shares of AT&T in a research report on Saturday, April 29th. Finally, Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $39.93 price target on the stock in a report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AT&T currently has a consensus rating of “Hold” and a consensus target price of $43.66.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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