Stralem & Co. Inc. raised its holdings in shares of AT&T (NYSE:T) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,759 shares of the technology company’s stock after purchasing an additional 4,380 shares during the quarter. AT&T makes up approximately 3.6% of Stralem & Co. Inc.’s portfolio, making the stock its 2nd largest holding. Stralem & Co. Inc.’s holdings in AT&T were worth $21,064,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Israel Discount Bank of New York lifted its holdings in shares of AT&T by 0.6% in the second quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock worth $154,000 after buying an additional 25 shares in the last quarter. Cim LLC lifted its holdings in shares of AT&T by 1.0% in the second quarter. Cim LLC now owns 6,399 shares of the technology company’s stock worth $241,000 after buying an additional 62 shares in the last quarter. Keel Point LLC lifted its holdings in shares of AT&T by 0.4% in the second quarter. Keel Point LLC now owns 20,182 shares of the technology company’s stock worth $761,000 after buying an additional 87 shares in the last quarter. Asset Planning Services Ltd. lifted its holdings in shares of AT&T by 2.5% in the second quarter. Asset Planning Services Ltd. now owns 4,273 shares of the technology company’s stock worth $161,000 after buying an additional 104 shares in the last quarter. Finally, AMG National Trust Bank lifted its holdings in shares of AT&T by 0.3% in the second quarter. AMG National Trust Bank now owns 43,712 shares of the technology company’s stock worth $1,649,000 after buying an additional 118 shares in the last quarter. 55.94% of the stock is currently owned by institutional investors and hedge funds.
NYSE T traded down $0.51 on Friday, reaching $35.63. 25,117,409 shares of the company’s stock traded hands, compared to its average volume of 23,540,180. AT&T has a 12 month low of $32.55 and a 12 month high of $40.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $218,732.58, a P/E ratio of 11.68, a PEG ratio of 2.45 and a beta of 0.39.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.13. AT&T had a net margin of 18.34% and a return on equity of 14.55%. The business had revenue of $41.68 billion for the quarter, compared to analysts’ expectations of $41.21 billion. During the same period last year, the business earned $0.66 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. equities analysts expect that AT&T will post 3.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Monday, April 9th. AT&T’s payout ratio is currently 65.57%.
In other news, Director Richard W. Fisher bought 2,600 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were purchased at an average price of $38.10 per share, for a total transaction of $99,060.00. Following the completion of the acquisition, the director now owns 2,600 shares of the company’s stock, valued at $99,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John T. Stankey sold 2,307 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $39.21, for a total transaction of $90,457.47. Following the completion of the transaction, the executive vice president now owns 51,672 shares in the company, valued at approximately $2,026,059.12. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
T has been the topic of a number of recent analyst reports. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $39.60 price target on the stock in a report on Wednesday, January 10th. Argus reaffirmed a “buy” rating and issued a $36.83 target price (down from $48.00) on shares of AT&T in a research note on Wednesday, February 7th. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Monday, March 5th. Guggenheim started coverage on shares of AT&T in a research note on Tuesday, March 13th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, HSBC raised shares of AT&T from a “hold” rating to a “buy” rating and raised their target price for the company from $34.90 to $41.00 in a research note on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $41.43.
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AT&T Company Profile
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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