Carlton Hofferkamp & Jenks Wealth Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,302 shares of the technology company’s stock after selling 596 shares during the quarter. AT&T comprises about 1.1% of Carlton Hofferkamp & Jenks Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in AT&T were worth $1,770,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC grew its holdings in AT&T by 1.3% during the 2nd quarter. Ancora Advisors LLC now owns 351,407 shares of the technology company’s stock worth $11,776,000 after acquiring an additional 4,370 shares in the last quarter. Kavar Capital Partners LLC boosted its holdings in shares of AT&T by 3.0% in the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after buying an additional 2,914 shares in the last quarter. Investment Partners LTD. boosted its holdings in shares of AT&T by 36.5% in the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after buying an additional 8,892 shares in the last quarter. JGP Wealth Management LLC boosted its holdings in shares of AT&T by 2.7% in the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after buying an additional 3,373 shares in the last quarter. Finally, Marco Investment Management LLC boosted its holdings in shares of AT&T by 16.2% in the 2nd quarter. Marco Investment Management LLC now owns 62,639 shares of the technology company’s stock valued at $2,099,000 after buying an additional 8,734 shares in the last quarter. 53.02% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on T shares. Barclays raised their price target on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. They noted that the move was a valuation call. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price objective (up from $35.00) on shares of AT&T in a research report on Monday. Citigroup increased their price objective on shares of AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.43.
In other news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the transaction, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.
AT&T stock traded up $0.21 during trading on Friday, reaching $37.64. The company had a trading volume of 13,433,678 shares, compared to its average volume of 33,095,766. The firm’s 50-day simple moving average is $36.67 and its 200 day simple moving average is $33.53. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $38.75. The firm has a market capitalization of $274.85 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 3.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 annualized dividend and a yield of 5.42%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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