AT&T Inc. (T) Holdings Trimmed by Stearns Financial Services Group
Stearns Financial Services Group decreased its holdings in AT&T Inc. (NYSE:T) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,296 shares of the technology company’s stock after selling 2,933 shares during the period. Stearns Financial Services Group’s holdings in AT&T were worth $1,696,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Almanack Investment Partners LLC. purchased a new position in shares of AT&T during the first quarter valued at $109,000. Sterling Investment Advisors Ltd. increased its stake in shares of AT&T by 289.1% during the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after buying an additional 2,024 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in shares of AT&T during the second quarter valued at $134,000. CKW Financial Group increased its stake in shares of AT&T by 83.9% during the second quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after buying an additional 1,724 shares during the period. Finally, Israel Discount Bank of New York increased its stake in shares of AT&T by 0.6% during the second quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 55.76% of the company’s stock.
Shares of AT&T Inc. (T) opened at $38.55 on Thursday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $233,588.95, a PE ratio of 12.99, a price-to-earnings-growth ratio of 3.16 and a beta of 0.44. AT&T Inc. has a twelve month low of $32.55 and a twelve month high of $43.03.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Tuesday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.49. AT&T’s dividend payout ratio (DPR) is currently 94.69%.
Several equities analysts have recently commented on the company. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.98 price target on the stock in a research note on Tuesday. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $36.38 price objective (down previously from $48.00) on shares of AT&T in a research report on Friday, December 1st. Nomura dropped their price objective on AT&T to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, November 21st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $51.00 price objective on shares of AT&T in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.83.
In other AT&T news, Director Matthew K. Rose purchased 29,600 shares of the stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now owns 3,100 shares in the company, valued at $104,625. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by company insiders.
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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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