Budros Ruhlin & Roe Inc. Purchases New Shares in AT&T Inc. (NYSE:T)
Budros Ruhlin & Roe Inc. purchased a new stake in AT&T Inc. (NYSE:T) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 86,405 shares of the technology company’s stock, valued at approximately $2,519,000. AT&T comprises about 0.5% of Budros Ruhlin & Roe Inc.’s investment portfolio, making the stock its 23rd biggest position.
A number of other hedge funds have also added to or reduced their stakes in T. TFO TDC LLC purchased a new position in AT&T during the 4th quarter worth $27,000. Lion Street Advisors LLC purchased a new position in AT&T during the 1st quarter worth $27,000. Horan Securities Inc. purchased a new position in AT&T during the 1st quarter worth $28,000. Efficient Wealth Management LLC purchased a new position in AT&T during the 1st quarter worth $35,000. Finally, Brooktree Capital Management purchased a new position in AT&T during the 1st quarter worth $36,000. Hedge funds and other institutional investors own 56.12% of the company’s stock.
In other news, Director Geoffrey Y. Yang acquired 6,754 shares of the stock in a transaction on Friday, April 24th. The stock was bought at an average price of $29.39 per share, with a total value of $198,500.06. Following the completion of the transaction, the director now directly owns 9,398 shares of the company’s stock, valued at $276,207.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen J. Luczo acquired 36,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was purchased at an average cost of $29.38 per share, with a total value of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is owned by company insiders.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01). AT&T had a net margin of 8.05% and a return on equity of 13.27%. The business had revenue of $42.78 billion during the quarter, compared to analysts’ expectations of $44.75 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 3.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 7.35%. The ex-dividend date was Wednesday, April 8th. AT&T’s dividend payout ratio (DPR) is 58.26%.
A number of research firms have recently weighed in on T. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Barclays reaffirmed a “hold” rating and set a $33.00 price target on shares of AT&T in a research note on Friday, April 17th. DZ Bank cut shares of AT&T from a “hold” rating to a “sell” rating and set a $26.00 price target on the stock. in a research note on Friday, April 24th. Nomura lowered their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Co lowered their price target on shares of AT&T from $36.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, April 3rd. Three research analysts have rated the stock with a sell rating, fourteen have issued 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 target price of $36.15.
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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