Sumitomo Mitsui Asset Management Company LTD Has $23.05 Million Stake in AT&T Inc. (T)
Sumitomo Mitsui Asset Management Company LTD decreased its holdings in shares of AT&T Inc. (NYSE:T) by 5.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 610,955 shares of the technology company’s stock after selling 34,852 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in AT&T were worth $23,051,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ullmann Financial Group Inc. purchased a new stake in AT&T during the first quarter worth $101,000. Feltz Wealth PLAN Inc. purchased a new stake in shares of AT&T during the 1st quarter valued at $104,000. Taylor Wealth Management Partners lifted its holdings in shares of AT&T by 0.4% during the 1st quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after purchasing an additional 11 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of AT&T during the 1st quarter valued at $109,000. Finally, Sterling Investment Advisors Ltd. lifted its holdings in shares of AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after purchasing an additional 2,024 shares during the last quarter. 54.99% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Inc. (T) opened at 38.59 on Friday. The firm’s 50-day moving average is $37.82 and its 200 day moving average is $38.56. The firm has a market capitalization of $236.94 billion, a price-to-earnings ratio of 18.13 and a beta of 0.49. AT&T Inc. has a one year low of $35.10 and a one year high of $43.03. AT&T also was the recipient of some unusual options trading activity on Thursday. Investors purchased 294,492 call options on the stock. This is an increase of approximately 654% compared to the typical daily volume of 39,059 call options.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $39.84 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts forecast that AT&T Inc. will post $2.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is 92.45%.
Several equities analysts recently issued reports on T shares. Vetr downgraded AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 target price on the stock. in a research report on Friday. Morgan Stanley increased their price target on AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 27th. BidaskClub raised AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Robert W. Baird restated an “outperform” rating and set a $43.00 target price on shares of AT&T in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.87.
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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