Pekin Singer Strauss Asset Management IL Reduces Stake in AT&T Inc. (T)
Pekin Singer Strauss Asset Management IL decreased its position in AT&T Inc. (NYSE:T) by 1.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 80,680 shares of the technology company’s stock after selling 1,383 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in AT&T were worth $3,352,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Feltz Wealth PLAN Inc. acquired a new position in shares of AT&T during the first quarter worth approximately $104,000. Taylor Wealth Management Partners raised its position in shares of AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares during the period. Asset Planning Services Ltd. raised its position in shares of AT&T by 26.6% in the first quarter. Asset Planning Services Ltd. now owns 4,169 shares of the technology company’s stock worth $173,000 after buying an additional 877 shares during the period. Toth Financial Advisory Corp acquired a new position in shares of AT&T during the first quarter worth approximately $214,000. Finally, Cedar Wealth Management LLC raised its position in shares of AT&T by 0.9% in the first quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock worth $228,000 after buying an additional 50 shares during the period. 55.00% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Inc. (NYSE T) traded down 0.2793% on Wednesday, reaching $37.7443. 3,118,852 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $37.60 and its 200 day moving average price is $39.38. The company has a market cap of $231.75 billion, a PE ratio of 17.7370 and a beta of 0.47. AT&T Inc. has a 52-week low of $35.81 and a 52-week high of $43.03.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The firm had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post $2.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a yield of 5.18%. AT&T’s dividend payout ratio is currently 92.45%.
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Several equities analysts recently issued reports on T shares. Tigress Financial upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Vetr lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $39.55 target price on the stock. in a report on Tuesday, May 16th. Royal Bank Of Canada set a $42.00 target price on shares of AT&T and gave the company a “hold” rating in a report on Saturday, May 20th. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating in a report on Tuesday, May 30th. They noted that the move was a valuation call. Finally, Drexel Hamilton restated a “hold” rating on shares of AT&T in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.50.
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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