Advisors Management Group Inc. ADV increased its stake in shares of AT&T Inc. (NYSE:T) by 29.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,496 shares of the technology company’s stock after buying an additional 46,021 shares during the quarter. AT&T comprises approximately 3.1% of Advisors Management Group Inc. ADV’s holdings, making the stock its 6th largest position. Advisors Management Group Inc. ADV’s holdings in AT&T were worth $6,502,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. CKW Financial Group boosted its position in AT&T by 105.0% during the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after acquiring an additional 2,159 shares during the period. Braun Bostich & Associates Inc. acquired a new position in AT&T during the 1st quarter worth $137,000. Elmwood Wealth Management Inc. acquired a new position in AT&T during the 1st quarter worth $178,000. Cerebellum GP LLC acquired a new position in AT&T during the 2nd quarter worth $178,000. Finally, Bristol John W & Co. Inc. NY acquired a new position in AT&T during the 1st quarter worth $201,000. Hedge funds and other institutional investors own 64.77% of the company’s stock.
A number of research analysts have issued reports on the company. Argus reiterated a “buy” rating and set a $48.00 price target on shares of AT&T in a research report on Friday, October 26th. Deutsche Bank boosted their price target on AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, September 24th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $38.00 in a research report on Friday, September 21st. They noted that the move was a valuation call. Credit Suisse Group assumed coverage on AT&T in a research report on Tuesday, July 10th. They set an “underperform” rating and a $29.00 price target for the company. Finally, Bank of America reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 21st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $37.95.
Shares of AT&T stock opened at $30.49 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $187.06 billion, a PE ratio of 10.00, a PEG ratio of 2.44 and a beta of 0.40. AT&T Inc. has a fifty-two week low of $28.85 and a fifty-two week high of $39.33.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The firm had revenue of $45.74 billion during the quarter, compared to analyst estimates of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. Equities analysts anticipate that AT&T Inc. will post 3.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were issued a $0.50 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 6.56%. AT&T’s dividend payout ratio (DPR) is 65.57%.
In related news, Director Michael B. Mccallister bought 4,000 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were bought at an average cost of $29.14 per share, with a total value of $116,560.00. Following the completion of the transaction, the director now directly owns 7,361 shares of the company’s stock, valued at $214,499.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were bought at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the transaction, the director now directly owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.
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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