Kornitzer Capital Management Inc. KS cut its holdings in AT&T Inc. (NYSE:T) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,586,352 shares of the technology company’s stock after selling 30,060 shares during the quarter. AT&T comprises 1.1% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 9th biggest position. Kornitzer Capital Management Inc. KS’s holdings in AT&T were worth $62,137,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in AT&T by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 427,857,308 shares of the technology company’s stock worth $16,143,056,000 after acquiring an additional 9,053,649 shares during the last quarter. BlackRock Inc. boosted its position in AT&T by 1.1% during the 2nd quarter. BlackRock Inc. now owns 367,489,130 shares of the technology company’s stock worth $13,865,363,000 after acquiring an additional 4,104,136 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in AT&T by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 64,856,009 shares of the technology company’s stock worth $2,446,984,000 after acquiring an additional 3,572,307 shares during the last quarter. Wells Fargo & Company MN boosted its position in AT&T by 2.7% during the 2nd quarter. Wells Fargo & Company MN now owns 48,360,252 shares of the technology company’s stock worth $1,824,633,000 after acquiring an additional 1,263,645 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in AT&T by 13.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 47,961,490 shares of the technology company’s stock worth $1,808,545,000 after acquiring an additional 5,619,434 shares during the last quarter. Institutional investors and hedge funds own 55.76% of the company’s stock.
In related news, Director Matthew K. Rose acquired 29,600 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the purchase, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) opened at $36.90 on Friday. AT&T Inc. has a 12 month low of $32.55 and a 12 month high of $42.70. The stock has a market capitalization of $226,530.00, a P/E ratio of 17.74, a PEG ratio of 3.14 and a beta of 0.44. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.60 and a current ratio of 1.60.
AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The company had revenue of $39.67 billion for the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. research analysts forecast that AT&T Inc. will post 2.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.42%. This is a boost from AT&T’s previous quarterly dividend of $0.49. AT&T’s dividend payout ratio is currently 96.15%.
A number of research firms have weighed in on T. Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $39.60 price target for the company in a research report on Wednesday. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a research report on Friday. Oppenheimer reaffirmed a “hold” rating on shares of AT&T in a research report on Wednesday, October 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $51.00 price target on shares of AT&T in a research report on Friday, November 10th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $43.00 price target on shares of AT&T in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company. AT&T has an average rating of “Hold” and a consensus price target of $42.59.
WARNING: This piece was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/13/att-inc-t-shares-sold-by-kornitzer-capital-management-inc-ks.html.
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.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.