Buckingham Asset Management LLC Has $5.76 Million Stake in AT&T Inc. (NYSE:T)
Buckingham Asset Management LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 24.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,448 shares of the technology company’s stock after buying an additional 38,373 shares during the quarter. Buckingham Asset Management LLC’s holdings in AT&T were worth $5,756,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Tiedemann Advisors LLC grew its position in AT&T by 6.9% during the first quarter. Tiedemann Advisors LLC now owns 28,492 shares of the technology company’s stock worth $831,000 after buying an additional 1,844 shares in the last quarter. Budros Ruhlin & Roe Inc. bought a new position in shares of AT&T in the 1st quarter valued at $2,519,000. Veracity Capital LLC lifted its stake in shares of AT&T by 500.9% in the 1st quarter. Veracity Capital LLC now owns 59,331 shares of the technology company’s stock valued at $1,730,000 after acquiring an additional 49,457 shares during the last quarter. Camarda Financial Advisors LLC increased its holdings in AT&T by 6.0% in the first quarter. Camarda Financial Advisors LLC now owns 34,627 shares of the technology company’s stock valued at $1,009,000 after purchasing an additional 1,954 shares during the period. Finally, Gs Investments Inc. increased its holdings in AT&T by 10.5% in the first quarter. Gs Investments Inc. now owns 24,205 shares of the technology company’s stock valued at $706,000 after purchasing an additional 2,308 shares during the period. 56.12% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the company. SunTrust Banks decreased their price target on AT&T from $36.00 to $30.00 and set a “hold” rating for the company in a report on Friday, April 3rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $38.00 price target on shares of AT&T in a research report on Thursday, January 30th. Bank of America dropped their price target on shares of AT&T from $43.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Citigroup dropped their target price on shares of AT&T from $42.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Raymond James cut shares of AT&T from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.15.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The firm had revenue of $42.78 billion for the quarter, compared to the consensus estimate of $44.75 billion. AT&T had a net margin of 8.05% and a return on equity of 13.27%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 3.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Thursday, April 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.35%. The ex-dividend date was Wednesday, April 8th. AT&T’s dividend payout ratio (DPR) is 58.26%.
In other AT&T news, Director Geoffrey Y. Yang acquired 6,754 shares of the business’s stock in a transaction on Friday, April 24th. The shares were acquired at an average price of $29.39 per share, for a total transaction of $198,500.06. Following the completion of the acquisition, the director now owns 9,398 shares in the company, valued at $276,207.22. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen J. Luczo acquired 36,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was acquired at an average price of $29.38 per share, for a total transaction of $1,057,680.00. The disclosure for this purchase can be found here. Corporate insiders own 0.07% of the company’s stock.
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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