Pure Financial Advisors Inc. Boosts Position in AT&T Inc. (T)
Pure Financial Advisors Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 30.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,057 shares of the technology company’s stock after buying an additional 2,570 shares during the quarter. Pure Financial Advisors Inc.’s holdings in AT&T were worth $355,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of T. Earnest Partners LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $113,000. Braun Bostich & Associates Inc. purchased a new stake in shares of AT&T during the first quarter valued at approximately $137,000. Elmwood Wealth Management Inc. purchased a new stake in shares of AT&T during the first quarter valued at approximately $178,000. Cerebellum GP LLC purchased a new stake in shares of AT&T during the second quarter valued at approximately $178,000. Finally, Taylor Hoffman Wealth Management purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $189,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was purchased at an average cost of $32.48 per share, with a total value of $249,771.20. Following the completion of the acquisition, the director now directly owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Rose purchased 65,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was bought at an average cost of $30.51 per share, with a total value of $1,998,405.00. Following the completion of the acquisition, the director now directly owns 81,319 shares of the company’s stock, valued at $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.
AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The firm had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. During the same period last year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. analysts anticipate that AT&T Inc. will post 3.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date was Monday, July 9th. AT&T’s payout ratio is currently 65.57%.
A number of analysts recently commented on T shares. SunTrust Banks decreased their price target on AT&T to $35.00 and set a “hold” rating for the company in a research report on Thursday, May 3rd. Macquarie reaffirmed a “buy” rating and set a $40.00 price target on shares of AT&T in a research report on Wednesday, May 30th. ValuEngine downgraded AT&T from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Jefferies Financial Group downgraded AT&T from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.80 to $31.17 in a research report on Thursday, June 7th. Finally, Moffett Nathanson downgraded AT&T from a “neutral” rating to a “sell” rating and decreased their price target for the company from $35.00 to $28.00 in a research report on Wednesday, June 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $38.21.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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