AT&T Inc. (T) Shares Bought by Ingalls & Snyder LLC
Ingalls & Snyder LLC lifted its position in AT&T Inc. (NYSE:T) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 462,135 shares of the technology company’s stock after purchasing an additional 1,911 shares during the quarter. AT&T comprises 0.9% of Ingalls & Snyder LLC’s holdings, making the stock its 23rd largest position. Ingalls & Snyder LLC’s holdings in AT&T were worth $18,102,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in T. Diamond Hill Capital Management Inc. purchased a new position in AT&T during the third quarter valued at approximately $210,000. Hermes Investment Management Ltd. increased its position in shares of AT&T by 7.6% in the third quarter. Hermes Investment Management Ltd. now owns 49,221 shares of the technology company’s stock valued at $1,928,000 after buying an additional 3,480 shares in the last quarter. Howe & Rusling Inc. increased its position in shares of AT&T by 1.9% in the third quarter. Howe & Rusling Inc. now owns 209,741 shares of the technology company’s stock valued at $8,216,000 after buying an additional 3,845 shares in the last quarter. Monarch Capital Management Inc. increased its position in shares of AT&T by 6.2% in the third quarter. Monarch Capital Management Inc. now owns 74,845 shares of the technology company’s stock valued at $2,932,000 after buying an additional 4,346 shares in the last quarter. Finally, Moloney Securities Asset Management LLC increased its position in shares of AT&T by 2.3% in the third quarter. Moloney Securities Asset Management LLC now owns 82,860 shares of the technology company’s stock valued at $3,246,000 after buying an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 55.76% of the company’s stock.
A number of analysts have recently commented on T shares. Jefferies Group restated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a research report on Thursday, August 24th. Macquarie restated a “buy” rating and issued a $43.00 price objective on shares of AT&T in a research report on Friday, September 1st. Robert W. Baird restated an “outperform” rating and issued a $43.00 price objective on shares of AT&T in a research report on Thursday, September 21st. Vetr cut AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price objective for the company. in a research report on Tuesday, September 26th. Finally, Morgan Stanley boosted their price objective on AT&T from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and an average price target of $42.83.
AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. research analysts predict that AT&T Inc. will post 2.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 9th. This is a positive change from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.19%. AT&T’s payout ratio is currently 94.69%.
In related news, Director Matthew K. Rose acquired 29,600 shares of the stock in a transaction on Wednesday, October 25th. The shares were bought at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the purchase, the director now owns 3,100 shares of the company’s stock, valued at approximately $104,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.
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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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