Glenview State Bank Trust DEPT. reduced its holdings in AT&T Inc. (NYSE:T) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,934 shares of the technology company’s stock after selling 4,445 shares during the quarter. AT&T accounts for 1.6% of Glenview State Bank Trust DEPT.’s holdings, making the stock its 23rd biggest position. Glenview State Bank Trust DEPT.’s holdings in AT&T were worth $3,327,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Israel Discount Bank of New York grew its position in AT&T by 0.6% during the second quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after purchasing an additional 25 shares in the last quarter. Greatmark Investment Partners Inc. grew its position in AT&T by 0.4% during the second quarter. Greatmark Investment Partners Inc. now owns 12,998 shares of the technology company’s stock valued at $490,000 after purchasing an additional 53 shares in the last quarter. Cim LLC grew its position in AT&T by 1.0% during the second quarter. Cim LLC now owns 6,399 shares of the technology company’s stock valued at $241,000 after purchasing an additional 62 shares in the last quarter. Stratford Consulting LLC grew its position in AT&T by 0.9% during the second quarter. Stratford Consulting LLC now owns 7,277 shares of the technology company’s stock valued at $275,000 after purchasing an additional 68 shares in the last quarter. Finally, Moon Capital Management LLC grew its position in AT&T by 0.3% during the second quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock valued at $824,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 55.76% of the company’s stock.
Shares of AT&T Inc. (T) traded down $0.11 during trading hours on Thursday, reaching $36.51. 15,129,105 shares of the company’s stock were exchanged, compared to its average volume of 31,028,357. AT&T Inc. has a 12-month low of $32.55 and a 12-month high of $42.70. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.23. The company has a market cap of $223,860.00, a price-to-earnings ratio of 17.55, a P/E/G ratio of 3.14 and a beta of 0.44.
AT&T (NYSE:T) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. analysts expect that AT&T Inc. will post 2.92 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.48%. This is an increase from AT&T’s previous quarterly dividend of $0.49. The ex-dividend date is Tuesday, January 9th. AT&T’s dividend payout ratio (DPR) is currently 94.23%.
In other news, Director Matthew K. Rose purchased 29,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average cost of $33.75 per share, for a total transaction of $999,000.00. Following the transaction, the director now directly owns 3,100 shares of the company’s stock, valued at approximately $104,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.
Several research firms recently issued reports on T. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $39.60 price objective for the company in a report on Wednesday. Oppenheimer reiterated a “hold” rating on shares of AT&T in a research note on Wednesday, October 25th. Canaccord Genuity reiterated a “buy” rating and set a $51.00 target price on shares of AT&T in a research note on Friday, November 10th. Robert W. Baird reiterated an “outperform” rating and set a $43.00 target price on shares of AT&T in a research note on Thursday, September 21st. Finally, Moffett Nathanson reiterated a “neutral” rating on shares of AT&T in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.59.
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AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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