Biltmore Capital Advisors LLC cut its stake in AT&T Inc. (NYSE:T) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,784 shares of the technology company’s stock after selling 1,429 shares during the period. Biltmore Capital Advisors LLC’s holdings in AT&T were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC raised its position in AT&T by 1,723.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after buying an additional 43,525,113 shares during the last quarter. Vanguard Group Inc. raised its position in AT&T by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after buying an additional 6,744,699 shares during the last quarter. Morgan Stanley raised its position in AT&T by 11.2% during the 2nd quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after buying an additional 5,931,167 shares during the last quarter. California Public Employees Retirement System raised its position in AT&T by 18.1% during the 3rd quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock worth $1,060,292,000 after buying an additional 4,292,231 shares during the last quarter. Finally, Covenant Multifamily Offices LLC purchased a new position in AT&T during the 2nd quarter worth approximately $81,364,000. Institutional investors own 52.94% of the company’s stock.
A number of research firms have issued reports on T. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target for the company in a research report on Thursday, July 25th. Sanford C. Bernstein began coverage on shares of AT&T in a research report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price target for the company. Standpoint Research lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. DZ Bank reissued a “hold” rating and set a $38.00 price target on shares of AT&T in a research report on Wednesday, September 18th. Finally, UBS Group raised their price target on shares of AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. AT&T currently has an average rating of “Hold” and an average price target of $38.90.
Shares of NYSE:T traded down $0.04 during trading on Friday, hitting $39.38. 18,628,934 shares of the stock traded hands, compared to its average volume of 30,604,307. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.79. The company has a market cap of $287.75 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.47 and a beta of 0.64. The company has a fifty day moving average price of $37.87 and a two-hundred day moving average price of $34.45. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $39.58.
AT&T (NYSE:T) last posted its earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. The firm had revenue of $44.59 billion during the quarter, compared to analyst estimates of $45.45 billion. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. On average, equities research analysts predict that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend was Wednesday, October 9th. AT&T’s dividend payout ratio (DPR) is 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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