APCM Wealth Management for Individuals bought a new position in shares of AT&T Inc. (NYSE:T – Get Rating) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 39,803 shares of the technology company’s stock, valued at approximately $834,000.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in AT&T by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 585,666,367 shares of the technology company’s stock worth $13,839,297,000 after buying an additional 13,066,523 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of AT&T by 1.1% in the 1st quarter. BlackRock Inc. now owns 521,448,502 shares of the technology company’s stock valued at $12,321,826,000 after buying an additional 5,777,961 shares during the period. State Street Corp increased its stake in AT&T by 3.8% in the 4th quarter. State Street Corp now owns 317,213,113 shares of the technology company’s stock valued at $7,803,443,000 after purchasing an additional 11,494,986 shares in the last quarter. Newport Trust Co increased its stake in AT&T by 1.9% in the 1st quarter. Newport Trust Co now owns 197,426,152 shares of the technology company’s stock valued at $4,665,180,000 after purchasing an additional 3,722,782 shares in the last quarter. Finally, Norges Bank purchased a new position in AT&T during the fourth quarter worth $1,740,054,000. Institutional investors and hedge funds own 52.88% of the company’s stock.
Analyst Upgrades and Downgrades
T has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on AT&T to $22.00 in a research report on Friday, July 22nd. Truist Financial reduced their price objective on AT&T to $21.00 in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price target on AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Raymond James reaffirmed an “outperform” rating and set a $26.00 target price on shares of AT&T in a report on Thursday, July 7th. Finally, Cowen reduced their price objective on AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.41.
AT&T Stock Down 0.1 %
AT&T (NYSE:T – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. The firm had revenue of $29.64 billion during the quarter, compared to analyst estimates of $29.48 billion. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 earnings per share. Research analysts forecast that AT&T Inc. will post 2.54 EPS for the current year.
AT&T Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date was Friday, July 8th. AT&T’s dividend payout ratio is currently 40.81%.
AT&T Company Profile
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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