NEXT Financial Group Inc boosted its position in shares of AT&T Inc. (NYSE:T) by 9.1% in the third quarter, Holdings Channel.com reports. The firm owned 109,104 shares of the technology company’s stock after acquiring an additional 9,083 shares during the period. NEXT Financial Group Inc’s holdings in AT&T were worth $4,128,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Ancora Advisors LLC lifted its stake in AT&T by 1.3% in the 2nd quarter. Ancora Advisors LLC now owns 351,407 shares of the technology company’s stock valued at $11,776,000 after purchasing an additional 4,370 shares during the last quarter. Kavar Capital Partners LLC lifted its stake in 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 purchasing an additional 2,914 shares during the last quarter. Investment Partners LTD. lifted its stake in 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 purchasing an additional 8,892 shares during the last quarter. JGP Wealth Management LLC lifted its stake in 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 purchasing an additional 3,373 shares during the last quarter. Finally, Marco Investment Management LLC lifted its stake in 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 purchasing an additional 8,734 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.
Shares of T stock opened at $38.47 on Friday. The firm has a 50 day moving average price of $37.12 and a two-hundred day moving average price of $33.80. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $276.28 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $38.75.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. The firm had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. As a group, research analysts expect that AT&T Inc. will post 3.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given 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 5.30%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.
Several equities research analysts recently issued reports on T shares. Oppenheimer set a $41.00 target price on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup raised their target price on shares of AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Cowen set a $40.00 target price on shares of AT&T and gave the company a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. set a $39.00 target price on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Barclays raised their target price on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $38.28.
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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