TrimTabs Asset Management LLC Takes Position in AT&T Inc. (NYSE:T)
TrimTabs Asset Management LLC bought a new stake in shares of AT&T Inc. (NYSE:T) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 32,870 shares of the technology company’s stock, valued at approximately $1,244,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. TRUE Private Wealth Advisors lifted its stake in AT&T by 6.5% in the 3rd quarter. TRUE Private Wealth Advisors now owns 55,764 shares of the technology company’s stock worth $2,110,000 after acquiring an additional 3,423 shares in the last quarter. SevenBridge Financial Group LLC lifted its stake in AT&T by 2.1% in the 3rd quarter. SevenBridge Financial Group LLC now owns 58,178 shares of the technology company’s stock worth $2,201,000 after acquiring an additional 1,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in AT&T by 6.5% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 9,736 shares of the technology company’s stock worth $369,000 after acquiring an additional 590 shares in the last quarter. Gateway Advisory LLC purchased a new stake in AT&T in the 3rd quarter worth about $216,000. Finally, Ullmann Financial Group Inc. lifted its stake in AT&T by 8.5% in the 3rd quarter. Ullmann Financial Group Inc. now owns 6,616 shares of the technology company’s stock worth $250,000 after acquiring an additional 520 shares in the last quarter. 53.02% of the stock is owned by institutional investors and hedge funds.
In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same period last year, the business earned $0.91 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
T has been the subject of several research analyst reports. Credit Suisse Group raised AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Thursday, July 25th. Oppenheimer set a $41.00 price objective on AT&T and gave the stock a “buy” rating in a research note on Tuesday, September 10th. DZ Bank reissued a “hold” rating and issued a $38.00 price objective on shares of AT&T in a research note on Wednesday, September 18th. Barclays increased their price objective on AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. They noted that the move was a valuation call. Finally, Bank of America reissued a “buy” rating on shares of AT&T in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $38.43.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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